The agencies recall that the Biden administration waived sanctions on German companies involved in NS2 in July and reached an agreement with Germany on the pipeline. Germany has agreed to take action if Russia uses gas as a weapon in its relations with Ukraine, but the pact did not define specific evaluation criteria.
At the beginning of last week, the German regulator Bundesnetzagentur suspended the certification of Nord Stream 2 AG as the operator of the Nord Stream 2 gas pipeline. As the reason, BNetzA said that the company is registered in Switzerland and that the operator should operate under German law.
The BNetzA announced on Tuesday that Nord Stream 2 AG had decided to establish a German subsidiary. Therefore, the certification process was suspended until the transfer of the most important assets and human resources to the new entity.
Pursuant to European law, the BNetzA has four months to conduct the procedure and develop a draft decision on operator certification, which will then be submitted for approval to the European Commission. This one will be at least a month old. The four-month term runs from September 8.
According to the Russian press, the delay means that the launch of Nord Stream 2 may be delayed until the summer of 2022.