Jochen Homann, the President of German energy regulator Bundesnetzagentur, said on Thursday that it would not make any decisions regarding the certification of the operator of the Nord Stream 2 gas pipeline in the first half of 2022. Homann noted that the certification process would remain suspended until Switzerland-based Nord Stream 2 AG submitted documentation on the transfer of its assets to a new German entity.
In mid-November, the Bundesnetzagentur halted the certification process, requiring Nord Stream 2 AG to transfer assets to the German subsidiary to take over the application. Homann said Nord Stream 2 AG had so far not updated the documentation. According to him, the certification process would cover the regulator’s first preliminary decision, followed by a review by the European Commission.
Homman’s comment suggests that Nord Stream 2 would unlikely start deliveries of Russian gas to Germany by next summer at the earliest. This has put additional pressure on European gas prices, which hit a record again recently. The day-ahead price in the Dutch TTF has climbed 655% year on year to a new record high of €130 per MWh ($42.91 per MMBtu) on Wednesday.
