The company behind the Nord Stream 2 gas pipeline is threatening to sue the EU if it’s not allowed to avoid new regulations that it says endanger the billions of euros that have been invested in the project.
In a letter obtained by POLITICO, Nord Stream 2 CEO Matthias Warnig wrote to European Commission President Jean-Claude Juncker that if the pipeline is not eligible for a derogation from the new rules, “the measure would be discriminatory against [Nord Stream 2] as an investor” and the EU may be breaking an international treaty.
The EU’s Gas Directive was revamped earlier this year and extends the bloc’s gas liberalization rules to cover new offshore gas pipelines from non-EU countries. It’s an effort to bring the contentious Russia-backed project — opposed by the Commission and many Central European countries but supported by Germany — under the EU’s regulatory umbrella.
The pipeline is to run 1,200 kilometers from Russia to Germany, but the new rules would only apply to the section of Nord Stream 2 in German territorial waters, a stretch of 54km.
Continue reading the article on the Politico news website.