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    GAZP   RU0007661625

PUBLIC JOINT STOCK COMPANY GAZPROM

(GAZP)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

German Regulator Suspends Nord Stream 2 Certification Procedure

11/16/2021 | 05:59am EST

By Ed Frankl

Germany's energy regulator said Tuesday that is has suspended the procedure to certify the controversial Nord Stream 2 gas pipeline between Russia and the country.

Bundesnetzagentur concluded that it would only be possible to certify an operator of the Nord Stream 2 pipeline if that operator was organized in a legal form under German law.

The operator, Nord Stream 2 AG, is based in Switzerland, and has decided to found a subsidiary in Germany to govern the German part of the pipeline, the Bundesnetzagentur said. This will now need to fulfill the requirements of an independent-transmission operator as set out in German law, it added.

Certification will remain suspended until main assets and human resources have been transferred to the subsidiary, the regulators said.

The pipeline, which runs beneath the Baltic Sea, is expected to double the volume of Russian natural gas exported directly to Germany, but has met a number of controversies and strained U.S-German relations, with U.S. officials having expressed fears it would give Moscow too much control of Europe's energy markets.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

11-16-21 0559ET

Stocks mentioned in the article
ChangeLast1st jan.
PUBLIC JOINT STOCK COMPANY GAZPROM 5.80% 316.83 End-of-day quote.-7.71%
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Analyst Recommendations on PUBLIC JOINT STOCK COMPANY GAZPROM
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Financials (USD)
Sales 2021 139 B - -
Net income 2021 33 022 M - -
Net Debt 2021 41 898 M - -
P/E ratio 2021 2,93x
Yield 2021 15,4%
Capitalization 98 248 M 97 994 M -
EV / Sales 2021 1,01x
EV / Sales 2022 0,87x
Nbr of Employees 477 600
Free-Float -
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Technical analysis trends PUBLIC JOINT STOCK COMPANY GAZPROM
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Mean consensus BUY
Number of Analysts 11
Last Close Price 4,16 $
Average target price 5,97 $
Spread / Average Target 43,7%
EPS Revisions
Managers and Directors
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Denis Vladimirovich Fedorov Head-Marketing & Administration Department
Yuri Stanislavovich Nosov Head-Administration Department
Timur Askarovich Kulibayev Independent Director
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