there was no Miracle: the German energy regulator Federal network Agency of Germany, refused to company Nord Stream AG 2 in the development of the project “Northern stream – 2” under the rules of the EU Gas Directive. What the German press has provisionally reported at the beginning of this month, gained strength official document of 15 may. We find out what fate now awaits the “Nord stream – 2”.
the Essence of the proceedings, which ended in the Federal network Agency of Germany, is as follows. Last year the EU adopted new amendments to the Gas Directive, on which the pipelines from third countries must meet the so-called Third energy package of European legislation. He suggests that one company may not be as gas supplier and the owner of the pipeline through which it is delivered. In addition, independent providers must have access to the gas pipeline: up to 50% of capacity should be reserved for them.
In Russia consider that these amendments were specifically directed against SP-2 and Gazprom, which was originally owned monopoly that pipe. Recall that the “Nord stream-2” includes two threads of a gas pipeline from Russia through the Baltic sea to Germany. Its total capacity will be 55 billion cubic meters of gas per year. It is planned that the pipeline will be launched later this or early 2021. In accordance with the requirements of the Third energy package, SP-2 can be filled in Gazprom’s fuel only at half power, supplying to Germany for a maximum of 27.5 billion cubic meters of “blue fuel” annually.
Naturally, the Russian side has challenged this decision, appealing to the specific timing of the introduction of the updated Gas Directive. The fact that a necessary condition for removing tubing from under her rules was the necessity of its completion until may 23, 2019. It would seem that what is there to argue? Because SP-2 is not completed yet.
However, 2 of the Nord Stream AG – operator SP-2, justifying his position, pointed to the fact that the concept of “project completion” should be considered more than just from the point of view of construction and technical processes. According to the company, you should take into account the fact that at the time of entry into force of the new rules have already been made billions of investments taking into account the previous legal situation.
This interpretation of the law provisions the German energy regulator, as it became clear on 15 may rejected. The Russian side was not able to succeed, despite the fact that the German government publicly supports the construction of this pipeline. It is extremely beneficial for Berlin, as for decades to come ensures that German deliveries of Russian “blue fuel”, plus turns this country into a gas hub, “on poaklawn” which will walk the rest of the Europeans. However, EU law is the law, and the Germans followed him meticulously, despite potential economic losses.
Well, that means the decision of the German regulator for the Russian pipeline? First of all, neither of which stop the construction of the question. Moreover, as previously wrote “MK”, low start is owned by “Gazprom” the ship – laying vessel “Akademik Chersky”, which is now in the German port of Mukran logistic centre Nord Streаm 2. Apparently, he will finish SP-2 after the project has left (due to the introduction of us sanctions against Russia earlier this year) pipelay Swiss company Allseas Group SA. At the time of suspension of construction was to build, according to estimates by Bloomberg, only 6% 1239-kilometer gas pipeline.
Another question: how can we fill this pipe after its completion, if the legislation of the EU gives Gazprom the right to only half its volume? Interviewed by “MK” experts see few scenarios.
First of all, none of them doubts that 2 Nord Stream AG will submit a protest to the regulator’s decision to the Higher regional court in düsseldorf. That, in turn, can directly redirect the complaint to the European court. The proceedings could drag in courts for a long time, and expert opinions about its outcome are divided. Partner of consulting company RusEnergy Mikhail Krutikhin believes that the European court unambiguously support the position of the German regulator and “Gazprom” will have to “move up”, which so far he flat out refused.
And Deputy Director of the national energy security Fund Alexei Grivach, for its part, recalls that C as long as Brussels was taken “antijaponesa” amendments and the Gas Directive, most EU countries did not bother to include them in their national legislation that opens up opportunities to challenge their application through the courts.
If, however, in the European courts “Gazprom” will lose, the inability to load SP-2 at full capacity, at least, lengthen the payback period of the project worth 9.5 billion euros for decades. And as a maximum will make it altogether unprofitable, points out the analyst of “Finam” Alexey Kalachev.
However, in “Gazprom” are the options to fill the pipeline and the effects of limitations of the Gas Directive. Alexey Grivach recalled that last fall, German newspaper wrote that “Gazprom” creates a separate company that will own and operate the 12-mile German portion of the project within the jurisdiction of the European Union. In this case, the requirement of “different supplier and operator” will be observed.
And Alexey Kalachev believes that “Gazprom” can give access to SP-2 to other Russian companies such as “Rosneft” and “NOVATEK”. “Together independent Russian suppliers could provide the second 50% filling of the pipeline, technically fulfilling the requirements of the EU. And it was still the same Russian gas, which now they are forced to sell to “Gazprom”. It is, of course, in this case, will lose its monopoly, but the domestic gas industry from such reforms will only benefit”, — says the analyst.
Finally, the Director of the national energy Institute Sergey Pravosudov in an interview with “MK” suggested that freed 50% of the pipeline capacity, “Gazprom” will hold auctions where any supplier of “blue fuel” – both Russian and foreign – will be able to declare their own volumes of fuel. “It will have to form a new company — operator for the supply of Russian gas to Europe. It will be the most inconvenient option for Russia, but such a scenario will allow our country to get rid of the prosecution in the European courts and to keep the advantage in the energy market of the Old world,” — said the expert.
