Nord Stream 2 Certification Process Temporarily Suspended

Source: www.gulfoilandgas.com 11/16/2021, Location: Europe

The Federal Network Agency has temporarily suspended the process for the certification of Nord Stream 2 AG as an independent transport network operator.

After a detailed examination of the documents, the Federal Network Agency came to the conclusion that certification of an operator of the Nord Stream 2 line is only possible if the operator is organized in a legal form under German law.

Nord Stream 2 AG , based in Zug, Switzerland, has decided not to convert the existing company, but to set up a subsidiary under German law only for the German part of the line. This subsidiary is to become the owner and operate the German section of the pipeline. The subsidiary itself must then meet the requirements of the Energy Industry Act for an independent transport network operator (Sections 4a, 4b, 10 to 10e EnWG ).

The certification process remains suspended until the transfer of the essential assets and human resources to the subsidiary has been completed and the Federal Network Agency will be able to check the newly submitted documents of the subsidiary as the new applicant for completeness. If these requirements are met, the Federal Network Agency can continue its examination within the remainder of the four-month period provided by law, draw up a draft decision and, as provided by internal market law, submit it to the European Commission for comment.

The Federal Ministry for Economic Affairs and Energy and the European Commission were informed accordingly in advance. The decision was made known to those involved in the proceedings and then published.


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