 |
Louisiana Light • 2 days | 87.12 | +0.63 | +0.73% | ||
|
Bonny Light • 2 days | 88.40 | -0.92 | -1.03% | ||
|
Opec Basket • 2 days | 88.39 | -0.06 | -0.07% | ||
|
Mars US • 175 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 11 mins | 2.763 | +0.005 | +0.18% |
|
Bonny Light • 2 days | 88.40 | -0.92 | -1.03% | ||
|
Girassol • 2 days | 89.03 | -0.87 | -0.97% | ||
|
Opec Basket • 2 days | 88.39 | -0.06 | -0.07% |
|
Peace Sour • 14 hours | 76.77 | +0.76 | +1.00% | ||
|
Light Sour Blend • 14 hours | 79.82 | +0.76 | +0.96% | ||
|
Syncrude Sweet Premium • 14 hours | 86.77 | +0.76 | +0.88% | ||
|
Central Alberta • 14 hours | 77.17 | +0.76 | +0.99% |
|
Eagle Ford • 2 days | 80.05 | +0.76 | +0.96% | ||
|
Oklahoma Sweet • 2 days | 80.00 | +0.75 | +0.95% | ||
|
Kansas Common • 2 days | 73.75 | +0.75 | +1.03% | ||
|
Buena Vista • 3 days | 87.23 | -0.55 | -0.63% |
Shale Gas Reactor Could Saves Millions in Propylene Production
University of Michigan engineers have…
Semiconductor Supply Chain Remains Secure Despite Taiwan Earthquake
An earthquake in Taiwan caused…
Court: Nord Stream 2 Gas Pipeline Not Exempt From EU Rules
The Nord Stream 2 gas pipeline from Russia to Germany will have to obey European Union regulations that separate owners of the pipelines from suppliers of gas, a German court ruled on Wednesday, dealing a blow to Russian gas giant Gazprom who sought to have EU rules waived for the controversial pipeline.
Under the EU Gas Directive, pipeline operators in the European Union must ensure fair competition by allowing access to third parties.
Nord Stream AG, the consortium behind the pipeline, has said that extending the EU directive to a pipeline from a third country (Russia) is discriminatory and that the revision of that Gas Directive from 2019 was specifically designed to delay or stop Nord Stream 2.
In a ruling on Wednesday, the Dusseldorf Higher Regional Court upheld a previous decision of a German regulator to impose the EU Gas Directive on Nord Stream 2.
Technically, the court’s decision would not prevent the start of the flow of gas—which Gazprom says will take place as early as this year—but the Russian-led pipeline owner may need to restructure and to hold auctions for third-party suppliers for the gas that would flow through Nord Stream 2.
“Nord Stream 2 AG maintains that the company is being unlawfully discriminated [against],” a spokesperson for the company told The Moscow Times.
“The rejection of Nord Stream 2 AG’s application for a derogation exposes the discriminating effect of the amended EU Gas Directive,” the spokesperson added.
“Nord Stream 2 AG company has taken note of the court ruling and will assess it. We will inform about future steps in due time,” a source in the company’s press service told Russian news agency TASS.
ADVERTISEMENT
Just last week, Gazprom said that Nord Stream 2 might supply 5.6 billion cubic meters of gas to Europe this year. Nord Stream 2 AG told Reuters last Thursday that construction was 99 percent complete.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
- Europe Faces LNG Supply Crunch
- Brent Climbs Back Above $70 On Major Production Outage
- ‘Skimming Stones’ Pattern Shows Wall Street Is Wrong About Oil
Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
Why this rule didn’t apply to Russia’s gas pipeline network which is totally owned by Russia and which has been supplying gas to the EU for more than 15 years. Nord Stream 2 is no different from the current Russian pipeline network.
I would hazard a guess who is behind this move. Poland and the Baltic countries are known for their anti-Russia stance and are amenable to incitation by the United States.
Dr Mamdouh G Salameh
International Oil Economist
Visiting Professor of Energy Economics at ESCP Europe Business School, London