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.