Nord Stream 2 AG sues European Union

Nord Stream 2 AG sues European Union

Nord Stream AG, operator of Russian gas pipeline project Nord Stream-2, has filed a suit to the European Court of Justice demanding partial abolishment of amendments to the Gas Directive due to the tight deadlines to issue exceptions for the projects subject to the rulings, according to a prospectus for Eurobonds of shareholder Gazprom.

The company sent a separate court claim for full abolishment of the E.U. Gas Directive in July 2019 as it saw the directive as discriminative against the Russian project.

“Besides, Nord Stream AG sent a claim to the European Court of Justice in July 2019 for partial abolishment of the amendments to the Gas Directive because they set unjustifiably tight deadlines for the states-members of the E.U. to provide exceptions to the Gas Directive which significantly reduces the chances to receive an exception,” Gazprom said.

The company said that the amendments do not correspond to the E.U. Energy Charter. “Nord Stream 2 AG notified about the start of a special arbitration… against the E.U. on the basis to the Agreement to the Energy Charter. Nord Stream 2 AG thinks that the E.U. violated the obligations specified in articles 10 and 13 of the Agreement to the Energy Charter by adopting discriminative amendments to the Gas Directive,” PRIME cited the prospectus as saying.

The amendments spread the E.U. laws on the sea parts of pipelines from third countries. The rules include unbundling, division between gas production and transportation among different companies.

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