Russia’s controversial Nord Stream 2 pipeline faces another delay after Germany suspended a key step in the approval process, sending European gas prices surging as much as 12%.
Germany’s energy regulator halted the certification process necessary before the new link from Russia can start. The suspension will allow Switzerland-based Nord Stream 2 AG, the operator of the pipeline owned by Gazprom PJSC, to set up a German subsidiary in an effort to meet European Union rules requiring gas producers to be legally separate from entities transporting the fuel.
