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Regulation of Nord Stream 2: Rule of law, equal treatment and due process A view from the project developer

A little over a year ago, five major European energy companies and Gazprom started working on the Nord Stream 2 project. Representing an investment of about €8 billion, it is one of Europe’s largest infrastructure projects, with the aim of providing a reliable gas supply for the coming decades. Over the last 12 months, Nord Stream 2 has reached four important milestones: contracts for the construction of steel pipes have been awarded, the operators for weight coating facilities have been chosen, the application for a construction permit in the Swedish route section has been submitted and the first pipes have been delivered to a port in Finland. In the next months, the contract for the offshore construction ships will be finalised, and during next year remaining applications and documentation will be submitted to the authorities in Finland, Denmark, Germany and Russia. At the same time, Nord Stream 2 has been actively engaged in public discussions to explain the business rationale behind the project and to report on its progress. Given its immense scale and its multinational character, the project has given rise to many divergent views, but as in any discussion, those expressed in the strongest language or the loudest voices are not necessarily the most correct ones. This Commentary considers and attempts to clarify some of the popular misconceptions surrounding this undertaking

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