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German Court Ruling Could Delay Nord Stream II Operation

EU-RUSSIA

A ruling from the Duesseldorf Higher Regional Court, delivered earlier this morning, could complicate the eventual operation of the Nord Stream II gas pipeline, currently under construction between Russia and Germany.

  • The ruling states that EU rules on energy supply apply to the pipeline, specifically that the owner of the pipeline must be a separate entity to that supplying the gas in order to ensure fair competition.
  • The net effect of the ruling will not be to stop the completion of the pipeline, but, as Stephen Stapczynski at BBG tweets: "In order to comply with the rules, Nord Stream 2 must be certified as an independent transmission or system operator under the EU regulation. While that doesn't require Gazprom to sell ownership rights in the unit, it must give up control and command rights toward its leadership". This in turn will take time and additional funds (the project has so far cost USD11bn).
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