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2019-02-15 12:05:00

NORD STREAM 2 DEAL

NORD STREAM 2 DEAL

REUTERS - Russia's planned Nord Stream 2 gas pipeline direct to Germany is set to face EU market rules after negotiators agreed informally to change the EU's gas directive to apply to offshore gas links, the European Commission said late Tuesday.

Russia's planned Nord Stream 2 gas pipeline direct to Germany is set to face EU market rules after negotiators agreed informally to change the EU's gas directive to apply to offshore gas links, the European Commission said late Tuesday.

This means the 55 Bcm/year Nord Steam 2 could have to comply with EU rules on regulated tariffs for the section of pipeline in Germany's territorial waters.

This could give Ukraine -- a rival transit route -- information that helps it price its own Russian gas transit services to the EU more competitively.

Ukraine has already committed to applying EU market rules to its gas transit system to Europe.

"Ensuring that all major gas pipelines to and from third countries are operated efficiently under a regime of transparent regulatory oversight will...guarantee non-discriminatory tariff setting," the EC said.

The new rules are likely to enter into force in the next few months, according to an EU diplomatic source.

That means Nord Stream 2 -- which is planned to be online at the end of this year -- would be treated as a new pipeline and thus not eligible for the same kind of waivers available to existing pipelines.

The Nord Stream 2 project company, which is 100% owned by Russia's Gazprom, would have to ask Germany -- the country where it connects to the EU -- for an exemption to avoid having to apply the new rules.

Germany would then have to consult with Russian authorities before deciding on an exemption based on EU rules.

The EC would take the binding decision on whether to grant the exemption, European Parliament press officer Thomas Haahr said Wednesday.

The parliament negotiators insisted in the deal that national governments are not allowed to agree anything with non-EU countries that would delay implementing the new rules, he said.

Governments have to transpose the rules into their national law within nine months of them entering into force, so around early 2020.

DEROGATIONS FOR EXISTING LINKS

Existing pipelines would be eligible for derogations -- delays on applying the rules -- granted by the first EU country they connect to, Haahr said.

These include Russia's existing 55 Bcm/year Nord Stream 1 gas link to Germany across the Baltic Sea, as well as links from North Africa to Spain and Italy, and also from mainland Europe to the UK after it leaves the EU.

National governments can grant such derogations within a year of the directive entering into force as long as this is "not detrimental" to EU competition, Haahr said.

The deal has been informally agreed by parliament and EU Council negotiators, representing national governments.

The next step is formal approvals from both the parliament and council, which usually take some months.

The parliament plans to vote in full on the deal in April, Haahr said.

The new rules will enter into force 20 days after being published in the EU's Official Journal.

 

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Earlier: 

Russia
2019, February, 11, 10:30:00

NORD STREAM 2 CONTROL

REUTERS - Nord Stream 2 has divided the EU, with German opposition to the new draft rules stalling discussions since it was proposed by the EU executive in November 2017.

 
Russia
2019, February, 11, 10:25:00

NORD STREAM 2 RISKS

REUTERS - The pipeline project, which is majority owned by Russian energy giant Gazprom, plans to tap lenders this year, a spokesman for Nord Stream 2 told Reuters. He did not comment on the risk of new sanctions.

 
 Midstream
2019, February, 8, 12:00:00

GERMANY'S GAS INDEPENDENCE

REUTERS - Germany will not become dependent on Russia for gas due to Russia’s Nord Stream 2 pipeline, Chancellor Angela Merkel said on Thursday, stressing that it was crucial to ensure Ukraine remained a transit country for gas.

 
 Midstream
2019, February, 6, 10:15:00

MORE RUSSIAN PIPELINES

REUTERS - Steel pipe maker Tenaris will team up with Severstal, one of Russia’s largest steel producers, to make steel pipes in the heart of Russia’s oil and gas sector in Siberia, they said on Tuesday.

 
 Midstream
2019, January, 30, 11:25:00

БОЛЬШЕ РУССКОГО ГАЗА В АВСТРИЮ

ГАЗПРОМ - Особое внимание на встрече было уделено растущему спросу на газ, поставляемый «Газпромом» в Австрию. С 1 по 27 января 2019 года объем экспорта, по предварительным данным, достиг 1,2 млрд куб. м. Это на 35% больше, чем за аналогичный период прошлого года.

 
 Midstream
2019, January, 30, 11:20:00

RUSSIA'S GAS FOR EUROPE: 200 BCM

PLATTS - Russia's Gazprom Export believes that the record high gas sales of 200 Bcm in Europe and Turkey last year represented a "new reality" for Russian gas exports. Speaking Tuesday at the European Gas Conference in Vienna, CEO Elena Burmistrova also said she expected gas sales to remain at current levels over the next few years.

 
 Midstream
2019, January, 25, 08:50:00

NORD STREAM WELL ABOVE

PLATTS - Natural gas flows via the Nord Stream pipeline from Russia to Germany totaled 58.8 Bcm in 2018 -- 3.8 Bcm higher than its nameplate capacity of 55 Bcm/year -- according to the operator of the pipeline.

 
Tags: NORD STREAM 2, RUSSIA, GERMANY, GAS, EU