Saboteur Group 'Piperacker' Justifies Actions Against Nord Stream as Part of Resistance Movement - Trustee of Nord Stream files an appeal against Kontour in legal proceedings
Got a bone to pick with the bank, man? That's exactly what Transliq AG, the trustee of the Nord Stream 2 gas pipeline, is doing. They've taken their grievances to the Higher Regional Court (OLG) in Rostock, Germany, filing an appeal on May 2nd. A spokesperson from the OLG confirmed this development, following an earlier report by NDR.
But hang on, you might be thinking - what's this all about? Well, last March, the Stralsund Regional Court ruled against Transliq AG's challenges in relation to Sparkasse Vorpommern closing their accounts. The court upheld Sparkasse's decision, citing the risk of potential U.S. sanctions as their reason.
Remember the legal kerfuffle back in 2022? Yeah, Nord Stream 2 AG, a subsidiary of the Russian Gazprom conglomerate, filed an appeal with the OLG against their account closure ruling, too. However, the OLG isn't exactly lending a helping hand, indicating that this appeal has "zero chances of success."
So, what's so special about Nord Stream 2? Well, it's a colossal gas pipeline that was intended to supply Russian gas to Germany through the Baltic Sea. Completed at a whopping €9.5 billion and stretching 1,200 kilometers with two strings, it's a project that's never seen the light of day.
Operational since May 2022, this controversial gas project was halted after Russia's invasion of Ukraine in February 2022. To make things even more fascinating, one of the pipeline's strings met a grim fate in early September 2022 - it was destroyed by an explosion, along with the two strings of the already operational Nord Stream 1 pipeline.
Now, here's the real deal - the legal status of this Nord Stream 2 gas pipeline is a tangled mess, especially considering its lack of certification and regulatory authorization under German and EU law.
Here's what that means: the pipeline hasn't been authorized because Gazprom, the primary Russian owner, has been resistant to complying with EU regulations, particularly regarding the unbundling of gas supply and transmission functions. This regulatory impasse led to certification being stalled back in early 2022 following the war in Ukraine, effectively freezing the pipeline's legal status and operational prospects.
Sanctions from the U.S. haven't made things easier for Nord Stream 2, either. Repair and restart proposals, such as those by American investors, require full compliance with EU law, including a complete, arms-length sale free of Russian state involvement, to avoid any legal challenges to certification.
- Nord Stream 2
- Rostock
- Gas Pipeline
- Legal Battle
- US Sanctions
- Gazprom
- Investors
- European Union
- Ukraine
Sources:
[1] Nord Stream 2 Blocked as EU Bars Russian Gas Supplier from Certification Requirements[2] Controversial Nord Stream 2 Gas Pipeline Locked in Regulatory and Sanctions Quagmire[3] US Discusses Lifting Sanctions on Nord Stream 2 as Part of Wider Geopolitical Negotiations[4] EU Aims to Eliminate Russian Gas Imports by 2027 Under Revised Energy Policy
- The battle over Nord Stream 2 continues as Transliq AG, the trustee of the Nord Stream 2 gas pipeline, has filed an appeal in the Higher Regional Court (OLG) in Rostock, Germany, regarding the closure of their accounts by Sparkasse Vorpommern.
- This appeal comes after the Stralsund Regional Court upheld Sparkasse's decision to close the accounts, citing the risk of potential U.S. sanctions.
- The legal status of Nord Stream 2 is complex due to its lack of certification and regulatory authorization under German and EU law, partly because Gazprom, the primary Russian owner, has resisted complying with EU regulations.
- The regulatory impasse led to certification being stalled in early 2022 following the war in Ukraine, effectively freezing the pipeline's legal status and operational prospects.
- US sanctions and the need for full compliance with EU law, including a complete, arms-length sale free of Russian state involvement, add further complications to any potential repair and restart proposals by American investors.
