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FX.co ★ EU declines to give EC mandate for Nord Stream 2 talks

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Forex-Humor:::2017-06-29T14:58:00

EU declines to give EC mandate for Nord Stream 2 talks

At the meeting on Monday, June 26, energy ministers of the EU countries did not give the European Commission a mandate for negotiation of the legal framework of the Nord Stream 2 gas pipeline with Russia, RIA Novosti reported with reference to the source.
The EU countries postponed discussion of this issue until September; meanwhile, the negotiations will be focused on design and commercial questions.
The final decision should be prepared at the technical level by the EU representatives and 28 national energy ministers in Brussels. The process of issuing a mandate can take several months.
In mid-June, Gazprom deputy chairman Aleksandr Medvedev said that European investors have already transferred funds for the construction of the Nord Stream 2 pipeline.
The rules of the EU internal trade do not apply to Nord Stream 2, since the gas pipeline will not pass through the land part of the European Union, but will go across the sea. Therefore, the EC intends to reach an agreement with Russia on the key principles, including transparency in pipeline operation, non-discriminatory tariffs, and access of third parties to gas pumping.

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