EU: New Rules Apply to Nord Stream 2

Thursday, April 25, 2019

The European Union executive on Thursday said its stance on Nord Stream 2 is law and will not change, despite receiving letter from the gas pipeline threatening legal action if it is not exempt from new energy rules.

The bloc amended its energy rules to ensure they would apply to the 11 billion euro ($12 billion) project to build a gas pipeline from Russia to Germany that has come under fire from the United States and several EU nations, who fear it will increase reliance on Russia.

The changes cast doubt over the pipeline's business plan, to be both owned and operated by Russian gas export monopoly Gazprom, and threaten to slow its completion.

In a letter to the European Commission president dated April 12, Nord Stream 2 asked for assurances by May 13 that it would be exempt from the rules, arguing investments in the pipeline were made before they came into force.

It wrote that the letter, seen by Reuters, should be seen as a notice of dispute, threatening to seek arbitration.

"All the letters to the Commission president will be replied in due time," a Commission spokeswoman said.

"We have the legislation in place so you should not expect any change in our position with regards to Nord Stream especially as it has been approved by all member states."

The Nord Stream 2 project is led by Gazprom, with funding provided by Germany's Uniper and BASF unit Wintershall, Anglo-Dutch firm Shell, Austria's OMV and France's Engie.


(Reporting by Alissa de Carbonnel; editing by Jason Neely)

Categories: Pipelines Russia Europe Construction Regulations

Related Stories

GLO Marine to Invest $7M in New Vessel Retrofit Hub in Romania

Vantage Drilling’s Ultra-Deepwater Drillship Heads to India Under $260M Contract

Eni Enlists Shearwater for 3D Seismic Survey in Timor Sea

Petronas Plans Ramp-Up in Exploration, Production Over Three Years

Australia and Timor-Leste Push to Advance Greater Sunrise Gas Field

MODEC, Eld Energy Partnership Targets Low-Carbon FPSO Power

Turkish Petroleum, Chevron Discuss Joint Oil and Gas Exploration

Petronas, CNOOC Ink LNG Sale and Purchase Agreement

Russia Gives ExxonMobil More Time to Exit Sakhalin-1 Oil and Gas Project

Saipem Nets Multibillion-Dollar Job at World's Largest Offshore Gas Field

Current News

Offshore Vietnam: Energy Imports Rise as Domestic Production Falls

Eni Advances Major Deep Water Gas Hubs with Dual FIDs

Eni Advances Angola Gas Project, Secures $9B Credit Facility

TVO Customizes Tethered BOP Technology

Eni: New Gas Discoveries in Libya

Petronas Makes New Hydrocarbon Discovery in Southeast Asia

PTTEP Picks Everllence Compressors for Thailand’s Offshore CCS Project

IEA Unleashes Record 400M Barrel Oil Stockpile Release Amid Iran War Disruptions

OneSubsea Bags Third PTTEP Subsea Systems Contract in One Year

Iran War Exposes Risks of Fossil Fuel Dependence

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com