CEPS Publishes Nord Stream 2 Commentary on Regulatory Framework
Nov. 16, 2016 | Zug | Over the past months, the energy sector has witnessed a lively discussion concerning the regulatory framework that is applicable to Nord Stream 2.
In order to summarize the legal aspects, Ulrich Lissek, Head of Communications and Governmental Relations of Nord Stream 2 AG, has written a commentary for the Centre for European Policy Studies (CEPS), a leading think-tank based in Brussels, Belgium.
Lissek’s commentary highlights that Nord Stream 2 will be implemented in full compliance with all applicable EU law, international conventions and national legislation. There are firmly established procedures for the assessment and approval of such projects by the authorities under whose jurisdiction the pipeline falls. This involves cross-border consultations and public hearings. Nord Stream 2 does not expect any exceptions from these rules. On the contrary, the project company expects the same regulatory treatment as all other similar pipelines that bring gas from a third country to the external borders of the EU’s internal market.
None of these numerous pipelines have ever been made subject to regulation of the internal energy market, because all of them have been recognised as being outside the internal market. This is supported by the wording of the Third Energy Package, its legislative history and consistent practical application by national regulators. Ultimately, it is not up to Nord Stream 2 to accept or reject the applicable regulatory framework. It is up to the competent authorities to implement all applicable legislation. Nord Stream 2 is fully committed to meeting all requirements for the realisation of the pipeline project. Based on the good experience from the first Nord Stream project, we have reason to be confident that Nord Stream 2 will be a success as well.
For the full commentary, published by CEPS on 15 November 2016, please click here.