The certification of the Nord Stream 2 gas pipeline, connecting Russia and Germany, is going to be paused until the main funds and staff are passed on to a German company, the country’s regulator has said.
German Federal Network Agency (BNetzA) insists that the operator of the pipeline could only be registered as a German entity, while Nord Stream 2 AG company is based in Switzerland. Nord Stream 2 AG opted to establish a German subsidiary to oversee the part of the pipeline that goes through the country, but the regulator says that most assets should be transferred to that firm.
The certification will resume only after this transfer is completed and the German subsidiary files a new application, BNetzA said. It will be studied during the remaining part of the four-months-long certification period.