LAST UPDATE: 15.00
The German energy regulator has set a temporary “block” in the licensing process for the operation of the Russian-German gas pipeline Nord Stream 2, asking for further clarifications in order to restart it.
The Swiss-based consortium that manages the pipeline will have to set up a company under German law, according to the Authority and broadcast by Reuters, in order to meet further prerequisites in order to obtain a pipeline license.
“The approval of the operation of Nord Stream 2 will be reconsidered only when the administrator is organized in a legal form compatible with German law,” it said in a statement.
The pipeline, which bypasses the former Soviet or formerly controlled countries of Eastern Europe from the former Soviet Union, has been highly controversial, with the United States imposing years-long sanctions on its construction. The sanctions were recently lifted by Joe Biden in order to smooth the ground of Washington’s relations with Berlin.
The decision of the German authority comes at a time of unprecedented energy crisis, with Russia controlling the “taps” of gas to Europe and the latter not having the necessary quantities to “extract” energy in the winter.
“Our company is taking this decision into account and will move to comply with applicable rules and regulations,” Nord Stream 2 AG said in response to a Bloomberg question. “We are not in a position to comment on the details of the process, the possible duration and the effect that this case will have on the start-up time of the pipeline,” he added.
Ukrainian Naftogaz: We welcome the decision of the German authority
Meanwhile, the head of the Ukrainian energy company, Naftogaz, said on Tuesday that he welcomed the decision of the German energy regulator.
Ukraine opposes the Nord Stream 2 pipeline, which will carry Russian gas to Germany bypassing Ukraine, and accuses Moscow of using energy as a weapon against Europe, with the Kremlin denying the allegations.
Source From: Capital
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.