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Germany calls the suspension of Nord Stream 2 certification “bungling”

Bundestag deputy from the Left party Klaus Ernst said that the suspension of the certification procedure for Nord Stream 2 AG as an independent operator of Nord Stream 2 would lead to higher prices.

The parliamentarian pointed out that the federal agency had to urgently certify “a pipeline badly needed for gas supply.” Instead, however, it “unnecessarily delays commissioning by its interpretation of the law”.

As a result, as Ernst pointed out, the liberalization of the gas market is increasingly turning into “bungling”. He stressed that the energy sector is at the heart of the infrastructure, but ideological barriers “should not threaten the supply in this area.”

Meanwhile, the price of gas futures in the European market has already risen to a maximum since late October 2021. They traded today for $ 1,100 per thousand cubic meters of gas. Thus, they rose by 17.8% in relation to the calculated price of Monday, November 15.

Earlier, Fitch commented on the decision of the German Federal Network Agency to suspend certification of Nord Stream 2 AG as the operator of the Nord Stream 2 gas pipeline. As the head of the group for natural resources and raw materials, Dmitry Marinchenko, said, “we are talking about procedural, not political issues.” At the same time, he noted that “certification is proceeding rather slowly,” and suggested that the project could be launched no earlier than the end of the heating season.

Read also “Possible Consequences of Suspension of Nord Stream 2 Certification Named”

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Source From: MK

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