/View.info/ The aim is to guarantee gas supplies and the interests of the investor in the pipe
Russia has prepared amendments to the Third Energy Package of the European Union (EU), whose norms currently prevent the construction of the South Stream gas pipeline, writes Izvestia, quoted by BTA.
The pipeline is planned to bypass the territory of Ukraine in order to deliver Russian gas to Europe without hindrance. According to the liberalization energy package, however, the supplier of blue fuel is obliged to share the pipes with other companies as well. According to the adviser of Gazprom Export, Andrey Konoplyanik, a professor at the Russian State University “Gubkin”, within the framework of the European expert groups, amendments and additions to the norms of the Third Energy Package are being developed, with the approval of which the anti-monopoly laws of EU and the interests of South Stream investors at the same time. Konoplyanik announced this initiative at a conference in Brussels on the gas aspects of the energy dialogue between Russia and the EU. He proposes that in the Third Energy Package there should be a separate article providing for the possibility to make a “subscription” for their power by the main gas consumers on the basis of long-term contracts already at the design stage of large cross-border pipelines.
It is also proposed that there be fines in case of non-purchase of the requested quantities. Thus, the countries or companies will have guaranteed volumes of gas, and the operator company, ensuring the construction of the pipeline and the supply of fuel along it, will be able to protect its investments without building loss-making capacities and forming a long-term and economically justified tariff for the supply of gas for its customers. This will avoid the current exceptions to the rules of the Third Energy Package, which must be agreed with countless officials of the European Commission and EU member states.
At first, the norm is planned to be extended to future gas pipeline projects, including from Iran and Iraq to Europe, but Gazprom may also benefit in the form of guarantees of return on long-term investments in pipeline construction, as well as being preserved the interests of the European shareholders in South Stream. Konoplyanik notes that European regulators are currently against such a norm, but according to him it is approved by representatives of the EC and Gazprom. He pointed out that the current principle of allocating capacities in auctions among competing companies ties the hands of the main pipeline builder.
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