Wednesday, November 17

Germany’s energy regulator has suspended the certification of Nord Stream 2.

 The approval process for the pipeline which will bring gas into Europe has been thrown a new roadblock to the contentious project, and drove up regional gas prices, reported Reuters. The reason that the Swiss-based consortium behind Nord Stream 2 first needed to form a German subsidiary company under German law to secure an operating license. It was unclear how long the process of establishing a new company and reapplying for certification would take. European natural gas prices immediately increased by almost 11% on news of the hold-up.

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Nord Stream-2 Certification suspended….Emmanuel Macron supports Ukraine…Government bond placement valued at UAH 8.159 bln…$490 mln to fight Covid-19

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The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.

A senior EBRD delegation is starting a week-long trip to Ukraine to meet with the country’s authorities and private sector companies. The delegation will include Alain Pilloux, the Vice President of Banking and in charge of Bank lending; and Mark Bowman, the Vice President for Policy and Partnerships.  The visit is to reconfirm the EBRD’s support for Ukraine, its reform agenda, and sustainable development. Discussions will focus on the decarbonization of the Ukrainian economy in line with the country’s updated Nationally Determined Contribution, the development of sustainable infrastructure, and the investment