Abstract:
EU energy acquis did not apply to the Nord Stream 2 pipeline project till the EU amended the geographical scope of the notion of an interconnector with Directive (EU) 2019/692. The operators of Nord Stream 2 must now comply with significant regulatory requirements. In particular, the ownership structure of the operating Nord Stream 2 AG needs to be unbundled, third-parties must be granted access to the pipeline, and Nord Stream 2 needs to be certified as compliant with EU law. By subsequently amending the EU energy acquis after the investment decision was made, the EU presumably violated the rights of Nord Stream 2 AG according to general principles of EU law. Should the EGC rule that Nord Stream 2 AG's rights were violated, the entire directive could be declared null and void.
