Nord Stream 2 to Create Firm to Own 31 Miles of Pipeline in Germany
The Nord Stream 2 AG company is considering creating a separate firm in order to own and manage approximately 50 kilometers (31 miles) of pipeline that will be on German soil, the Financial Times reported Thursday.
The new section of the pipeline will be subjected to EU regulations, while the rest of Nord Stream 2 — about 1,200 kilometres — will remain outside the bloc’s jurisdiction, the newspaper reported, citing its sources.
The creation of a separate company to manage the German part of the pipeline has not been discussed with German regulatory bodies yet, the media outlet noted.
According to Financial Times, the proposed corporate structure considered for Nord Stream 2 would undermine last month’s EU decision to make the whole project subjected to EU energy rules.
The Nord Stream 2 project is a joint venture of Gazprom and five European companies: France’s ENGIE, Austria’s OMV, British-Dutch Royal Dutch Shell, as well as Germany’s Uniper and Wintershall. The 1,230-kilometer-long pipeline is set to run from Russia to Germany to deliver Russian gas to European consumers.