Nord Stream 2 Operator Says It Has Registered German Subsidiary, Opening Door to Certification

© Photo : Nord Stream 2 AGNord stream 2 route map
Nord stream 2 route map  - Sputnik International, 1920, 26.01.2022
German regulators halted the certification of Nord Stream 2 AG as an independent pipeline operator in November, saying regulatory approval would be forthcoming only if and when the company was organized under German law.
Nord Stream 2 AG, the Switzerland-based operator of Nord Stream, has established a German subsidiary, the company announced Wednesday.
The subsidiary, 'Gas for Europe GMBH', opens the door for the resumption of German regulatory approval of the pipeline, which was frozen late last year amid a legal dispute.
Gas for Europe GMBH will be headquartered in Schwerin, northern Germany, and will serve as the owner and operator of the 54 km section of the Nord Stream 2 pipeline that's situated in German territorial waters and the landfall facility in Lubmin, and will act as an 'independent transport system operator' in accordance with the requirements of the German Energy Act.
The German Federal Grid Agency temporarily suspended the certification of Nord Stream 2 late last year, saying it would be impossible to approve the pipeline until the Germany-based portion of the infrastructure and its employees were transferred to German jurisdiction. The agency further required that Nord Stream 2 AG set up an independent subsidiary in Germany organized under and subject to German law.
Nord Stream 2 was completed and made fully ready for operation in late December when the second of its twin lines was filled with gas. Gazprom expects certification to be completed in 2022, but not during the upcoming final months of winter and spring, when gas demand in the region is at its peak. Moscow had encouraged the pipeline's speedy certification last year as a means to easing Europe's gas shortage -which has caused a dramatic spike in energy and heating prices for consumers and businesses across the region.
Once operational, Nord Stream 2 is expected to pump up to 55 billion cubic meters of Russian gas to northern Germany. From there, the gas can be delivered to customers further west and south. Along with Russian gas giant Gazprom, five Western European energy companies are involved in the project, including Germany's Uniper and Wintershall, Austria's OMV, France's Engie and the British-Dutch Royal Dutch Shell.
To participate in the discussion
log in or register
Заголовок открываемого материала