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EU Council voted positively for a new gas directive

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EU Council voted positively for a new gas directive
April 16
13:00 2019

The gas directive of Europe, in which there is room for Nord Stream 2, has got several corrections. This was reported on Monday by the representatives of the EU Council.

The document received approval without any further discussions. Since the decisions approved by the European Parliament can be taken by any EU Council of Ministers, the vote on this issue was conducted at the EU Agriculture and Fisheries Council.

The European Parliament approved a new directive on 4 April. It is about the EU gas market rules applicable to the communications from non-European countries. This also applies to the “Nord Stream 2”, which will run through  the Russian Federation to Germany.

The new points of the directive state that parts of the pipelines built by the third countries must comply with the requirements applicable to internal pipelines operating in the EU.

The basic requirement was the separation of gas supplying companies and operating ones. In addition, the directive refers to the rules for access to the pipeline of other providers and transparent regulation of tariffs. Thus, the operator of the Nord Stream 2 should not depend on Gazprom. In addition, half of the capacity will have to be reserved for the possible engaging of other suppliers.

According to the last year’s statistics, Russia was the largest gas supplier to the European market (47%), Norway was the second (34%), followed by Algeria and Libya (8.5% for two). Most of the gas is supplied to Europe through pipelines and only about 10% is brought as LNG.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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