OMVJF - Nord Stream 2 loses court case to waive EU pipeline rules

A German court rules the Nord Stream 2 gas pipeline is not exempt from European Union rules that require the owners of pipelines to be different from the suppliers of the gas to ensure fair competition. The Dusseldorf Higher Regional Court dismissed a bid by project leader Gazprom (OTCPK:OGZPY) to overturn the German Network Agency's decision to impose the EU measures. The decision may delay the start of the operations and add a bit to the cost but will not stop the completion. Gazprom's Western partners on Nord Stream 2 are Royal Dutch Shell (RDS.A, RDS.B), BASF's (OTCQX:BASFY) Wintershall, Uniper (OTC:UNPPY), OMV (OTCPK:OMVJF) and Engie (OTCPK:ENGIY). Russia's President Putin said last week that only 15 km remain to be completed on Nord Stream 2 despite U.S. sanctions.

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Nord Stream 2 loses court case to waive EU pipeline rules