A German regional court this week refused Russian energy giant Gazprom’s appeal to exclude the Nord Stream 2 pipeline from EU rules requiring gas producers to be legally separate from distributors. The judgment doesn’t affect construction of the 1,230-kilometer (765-mile) project through the Baltic Sea to the German coast, which Gazprom says will be completed within weeks, but it will force Gazprom to forfeit some control over the pipeline.
Critics say Nord Stream 2 will enable Russia to avoid sending gas through Ukraine, depriving the country of approximately $2 billion annually in transit fees and potentially exposing it to heightened Russian aggression. U.S. sanctions delayed completion of the project, but last month Washington and Berlin agreed that it could go ahead and that Germany would take action if Russia weaponizes its gas supplies or commits aggression against Ukraine. Among other measures, they also expressed support for a $1 billion fund for Ukraine to diversify its energy sources, with Berlin providing an initial $175 million. And Germany will back Ukraine in its attempt to secure from Gazprom an extension of the existing gas transit agreement, which expires in 2024.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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