OMVJF - German regulator suspends certification of Nord Stream 2 pipeline

Germany's energy regulator says it suspended the certification process for the Nord Stream 2 pipeline that would bring Russian gas to the country, and says the Swiss-based consortium needed to form a company under German law must secure an operating license. "A certification for the operation of Nord Stream 2 will only be considered once the operator is organized in a legal shape compliant with German law," the regulator says. The news has sent benchmark European gas prices surging as much as 12%, Bloomberg reports, as traders feared the decision could further delay the start of the pipeline’s operations. The project is owned by Russian-controlled Gazprom (OTCPK:OGZPY), with investment from European companies Shell (RDS.A, RDS.B), BASF's (OTCQX:BASFY) Wintershall, Uniper (OTC:UNPPY), OMV (OTCPK:OMVJF) and Engie (OTCPK:ENGIY). Nord Stream 2 AG has been waiting for the certification of the independent pipeline operator to start gas deliveries to Germany in compliance with European energy rules;

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German regulator suspends certification of Nord Stream 2 pipeline