Nord Stream 2 pipeline still without permit

Russia and Germany are keen for full regulatory approval of the natural gas pipeline as European faces an energy crunch. Critics say the pipeline increases the EU's dependency on Russian gas.

A group of Republicans in the US Senate has criticized the pipeline, calling it a detriment to US allies in Europe. President Joe Biden waived sanctions on the project earlier this year.

The benchmark price for natural gas in Europe continued to rise in early trading on Wednesday, after spiking by 18 percent on Tuesday. The move comes after Germany's energy regulator temporarily suspended certification for the Nord Stream 2 gas pipeline that would link the country to Russia. Gas supplies in Europe have been under pressure for months, with prices rising sharply for consumers since the summer. Also, we look why factories in China are experiencing a shortage of workers.

The Nord Stream 2 pipeline connecting Russia to Germany has long been finished, and Europe is in desperate need of the gas. And yet, it's not flowing and it is unclear if and when the pipeline will be put in service.

The Biden administration has announced plans to impose sanctions on Nord Stream 2 AG, the company building a controversial gas pipeline from Russia to Germany.

Economy Minister Robert Habeck has pushed forward the timetable for Germany's fossil fuel exit and paved the way for the country's first national gas reserve in order to wean the country off of Russian gas.

Russia's Deputy Prime Minister Alexander Novak has said Moscow could cut off the flow of natural gas through the Nord Stream 1 pipeline, which links the country to Germany, in retaliation for sanctions imposed on its economy over the invasion of Ukraine. This latest threat comes as the United States is considering banning purchases of Russian oil. Novak warned that such a move could push prices as high as $300 a barrel. In early trading on Tuesday, the international benchmark Brent crude was trading at around $125.

Canada will return to Germany the repaired turbine of the Russian Nord Stream 1 pipeline, vital for sustaining German gas supply. Ukraine has condemned the move, saying it undermines the sanctions against Russia.

Gas supplies to Europe from Russia through the pipeline had been shut off for 10 days of scheduled maintenance. The flow has now restarted but at far below maximum capacity.

Russia's Gazprom said it would again reduce gas deliveries through Nord Stream 1 by 20% for 'repairs,' cutting the current flow in half. The new blow to supply comes as Europe scrambles to store gas for winter.

Nigeria, Algeria and Niger are renewing efforts to implement a decades-old plan, as they look to benefit from EU efforts to wean itself off Russian gas. But is there enough political will and funding for the project?

As European leaders were warning of sabotage to the Nord Stream 1 and 2 pipelines, Poland and Norway inaugurated a new conduit that will reduce dependence on Russian gas. The move underscores the urgency of EU economies' search for new energy sources.