Germany’s energy regulator said it had “temporarily suspended” certification of the Nord Stream 2 pipeline, dealing another setback to the Kremlin-backed gas project and causing UK and continental European gas prices to jump.
According to the regulator, Nord Stream 2, which aims to offer gas supplies to Europe via an underwater pipeline running from Russia to Germany, has failed to organise an operator recognised under German law.
The Swiss-based project created a German subsidiary to own and operate the German section of the pipeline. However, “the subsidiary itself must then meet the requirements of the Energy Industry Act for an independent transport network operator”, the regulator said in a statement on Tuesday.
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