Austria to Continue Favouring Launch of Nord Stream 2, Economy Minister Says

VIENNA (Sputnik) - Austria, contrary to the wishes of other countries, will not block the Russian-led Nord Stream 2 gas project, in which it has invested heavily. Vienna will try to get the pipeline up and running, provided there is no escalation in Ukraine, Austrian Economy Minister Margarete Schrambock said on Sunday.

"I know some countries would like Austria to abandon Nord Stream 2, but this will not happen on my part and on the part of the foreign minister [Alexander Schallenberg]. The country has invested a lot through [Austrian oil and gas] company OMV. We need the international rule of law, security of investments ... therefore, if there is no invasion, then Nord Stream 2, in our opinion, should start to operate," Schrambock told Austrian broadcaster ORF TV.

Nord Stream 2 is designed to carry natural gas from Russia to Germany beneath the Baltic Sea. On September 10, Russia's Gazprom announced that the construction of the pipeline was complete. The process of certifying Nord Stream 2 AG as the pipeline’s independent operator is currently underway to ensure the project complies with the conditions of the 2019 EU Gas Directive. German regulators are expected to decide on the certification in the second half of 2022.

On January 26, Nord Stream 2 AG announced it had established a subsidiary, Gas for Europe GmbH, in Germany for certification under national law. The new entity will become the owner and operator of the 33-mile section of the Nord Stream 2 gas pipeline in German waters. The German Federal Network Agency told Sputnik that the certification would resume after the completion of the transfer of main assets of the German subsidiary and verification of the completeness of the documentation.