Gazprom’s German subsidiary, which operated the Nord Stream 2 gas pipeline, announced today that it would probably close down after the German government suspended its certification process indefinitely last week due to the Russian invasion of Ukraine.
“Due to current developments, Gas for Europe GmbH is likely to close its operations,” it said in a statement on its website.
This company was set up to comply with European energy rules, which stipulate that pipeline owners must be different from gas suppliers in order to ensure fair competition.
Two days ago, sources familiar with the matter reported that Nord Stream 2 AG, the company that built the pipeline that bypassed Ukraine to transport gas from Russia to Germany, was considering bankruptcy.
Source: Capital
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