German Regulator Puts Brake on Nord Stream 2 in Fresh Blow to Gas Pipeline -

"First flows through the pipeline look very unlikely in the first half of 2022, he added."

Why this is important: It is estimated that Russia currently provides around 40 percent of Germany’s natural gas imports, and the pipeline will double Russia’s export capacity to Germany. The delay is merely a formality, as the Swiss-based consortium behind the pipeline is required to form a subsidiary company in Germany that is compliant with the country’s laws. This is an expensive formality, however, resulting in European prices jumping almost 11 percent after the delay was announced.