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Nord Stream 2 founds German subsidiary

2022-01-26T17:16:01.743Z

The pipeline company Nord Stream 2 is based in the Swiss tax haven of Zug. Now she has founded a German subsidiary - a prerequisite for continuing the certification process.



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Gazprom control center: Clear the way for certification to continue

Photo: DENIS SINYAKOV/ REUTERS

The subsidiary required for the certification of the Nord Stream 2 gas pipeline has been founded.

The gas transport company Gas for Europe GmbH is based in Schwerin, as the company announced on Wednesday.

The Federal Network Agency suspended a certification process in November and issued a corresponding condition.

Gas for Europe will own and operate the German part of the pipeline, the statement said.

This includes the approximately 54-kilometer-long section of pipeline in German territorial waters and the landing station in Lubmin in Mecklenburg-Western Pomerania.

Reinhard Ontyd was appointed managing director.

He had worked in the management of various energy companies.

According to Gas for Europe, it will now focus all its efforts on meeting the requirements for the continuation of the certification process.

The Nord Stream 2 Baltic Sea gas pipeline from Russia to Germany has been completed but is not in operation.

Certification of an independent transport network operator by the Federal Network Agency is still pending.

The Bonn authority stopped the procedure in November and pointed out that the transport network operator had to be a company under German law.

Nord Stream 2 AG is based in Zug, Switzerland.

About 55 billion cubic meters of gas are expected to flow through the pipeline every year.

mik/dpa-AFX

Source: spiegel

All business articles on 2022-01-26

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