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2020-05-19 11:45:00

NORD STREAM 2: UNBUNDING RULES

NORD STREAM 2: UNBUNDING RULES

ENERDATA - 18 May 2020 - The German Federal Network Agency (Bundesnetzagentur) has refused to grant a derogation from EU unbundling regulations to Nord Stream 2 operators for the section of the gas pipeline located in Germany. According to the regulator, the project did not qualify for exemptions as it was not completed before the 23 May 2019. The developers consider that the project is "economically functional" since they started to invest in the gas pipeline. They have now a month to evaluate the decision and to consider further action. Before the German ruling, they asked the European Court of Justice to repeal the EU unbundling rules and sought to launch an arbitration procedure under the International Energy Charter.

In November 2019, the German parliament modified the Energy Industry Act to transpose the European Gas Directive that was amended in April 2019. Most notably, the European regulation requires gas pipelines not to be owned directly by gas suppliers except if they were built before May 2019. It also obliges making available at least 10% of the gas pipeline capacity to third parties. This rule applies to all pipelines used to import gas into the European market, including from non-EU countries.

A consortium associating Gazprom (50%), Uniper, Shell, OMV, Wintershall, and Engie (10% each) is building the 1,220 km-long Nord Stream 2 gas pipe (two offshore strings with a capacity of 55 bcm). The project, which will double the throughput of the current Nord Stream route, is causing controversy as Germany increases its dependence on Russian gas while by passing Ukraine. In January 2020, Russia postponed the commissioning of Nord Stream 2 from mid-2020 to the end of 2020 or early 2021, due to US sanctions against the gas pipeline that could delay the projects by several months.

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Earlier:

NORD STREAM 2: UNBUNDING RULES
2020, May, 13, 12:30:00
RUSSIA'S SHIP FOR NORD STREAM 2
The Nord Stream 2 operating company has declined to give any guidance on the schedule for completing the pipeline, saying only that it was "actively looking for solutions" to finish the pipelaying work.
NORD STREAM 2: UNBUNDING RULES
2020, May, 13, 12:20:00
RUSSIA'S GDP WILL DOWN BY 4.5%
Russia is set to record negative GDP growth of 4.5 per cent in 2020 following the shocks caused by the coronavirus pandemic and the collapse of the OPEC+ agreement to limit oil production.
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Tags: NORD STREAM 2, GAS, EUROPE, RUSSIA, GAZPROM