Gazprom recently said that it had finished constructing the Nord Stream 2 natural gas pipeline connecting Russia to Germany. The Russian gas company noted that it would conduct necessary pre-commissioning activity before the end of 2021. However, market participants and analysts expect the start of gas flows in the new pipeline would be pushed back into 2022. They estimated that it would need up to eight months to complete the certification process and secure further EU approval.
German regulator BNetzA has until January 2022 to submit a draft decision on Nord Stream 2’s compliance with EU rules. The European Commission, which has been unsupportive toward the project, is expected to examine BNetzA’s draft decision with particular caution and scrutiny. The Commission has two months to analyse the draft, which can be extended by another two months.
BNetzA also needs approval from Germany’s federal energy ministry, which will have three months after receiving all required documents to determine whether certifying Nord Stream 2 would jeopardise Germany’s and the EU’s energy security. Nord Stream 2 also has to comply with the European unbundling rules, which require the company owning the pipeline to be different from the company supplying gas shipped through the pipeline to ensure fair competition.
