The new company is to become the owner and operator of the 54-kilometre section of the Nord Stream 2 Pipeline located in the German territorial waters and the landfall facility in Lubmin
MOSCOW, January 26. /TASS/. Nord Stream 2 AG, operator of the Nord Stream 2 gas pipeline project, has established a German subsidiary, Gas for Europe GmbH, for the German section of the pipeline, the company said in a statement on Wednesday.
Gas for Europe GmbH will become the operator of this section as an independent transport system operator in accordance with German law.
“Nord Stream 2 AG has founded a German subsidiary Gas for Europe GmbH. The new company is to become the owner and operator of the 54-kilometre section of the Nord Stream 2 Pipeline located in the German territorial waters and the landfall facility in Lubmin, as an independent transmission operator in accordance with the German Energy Industry Act (EnWG),” according to the statement.
The Nord Stream 2 saga
The construction of Nord Stream 2 was fully completed on September 10, 2021. The works were initially planned to be completed by the end of 2019, though the construction was postponed due to US sanctions. The Nord Stream 2 project envisages the construction of two pipelines with a total capacity of 55 bln cubic meters per year from the coast of Russia through the Baltic Sea to Germany.
To start pumping gas, Nord Stream 2’s operator has to obtain the green light from the German regulator. On November 16, the Federal Network Agency (Bundesnetzagentur) suspended the procedure to certify Nord Stream 2 AG, which is based in Zug (Switzerland), as an independent transmission operator due to organizational and legal issues. The regulator noted that the certification procedure would remain suspended until the operator’s main assets and human resources were transferred to the ownership of its German subsidiary.
Russian President Vladimir Putin said on December 29 that Russia and its partners had fulfilled their objective of creating Nord Stream 2, adding that it is for Europeans to decide on it now. The Russian leader noted that the pipeline was ready for operation. Once Moscow’s partners in Europe come to a decision on it, then additional volumes of Russian gas will be pumped into the pipeline, Putin said. He also was confident that opening Nord Stream 2’s operation would enable a decline in gas prices in Europe. Given the new green policy course, Germany now needs more gas because the country is now gradually abandoning the use of coal and nuclear energy.
-
Van Gerwen bereikt play-offs Premier League, maar verliest finale in Sheffield
-
Tienvoudig winnaar Nadal krijgt weer last van zijn voet en verliest in Rome
-
Arsenal at risk of wasting Mikel Arteta progress as Tottenham expose fallibility
-
Tottenham vs Arsenal player ratings as Harry Kane and Son Heung-min boost top four hopes
-
Tienvoudig winnaar Nadal laat zich verrassen door Shapovalov in Rome
-
Van Gerwen vrijwel zeker van play-offs Premier League na simpele zege op Wright
-
The biggest north London derby in a decade will decide Arsenal and Tottenham's future
-
Djokovic eenvoudig langs Wawrinka in Rome, Swiatek boekt 25e zege op rij
-
Wolves vs Man City LIVE: Premier League result and final score as Kevin De Bruyne nets four
-
Renners maken zich op voor massasprint in zesde etappe
-
Manchester United's academy is winning again – so why not play the kids against Crystal Palace?
-
Erik ten Hag meets Man Utd director to begin planning for next season
-
Blind trots op titel Ajax: 'We hebben nooit getwijfeld of we het zouden halen'
-
Ajax sweep to 5-0 win against Heerenveen to seal Eredivisie title