Njord Gas Files Lawsuit Against Norwegian Government Over Tariff Cut

Njord Gas has filed a lawsuit against the Norwegian government to claim compensation for losses due to the cuts in gas transport tariffs, which is a measure introduced by the previous government and confirmed by the current ruling parties in December. 

The overhaul will impact gas transported after 1 October 2016. Norway announced the tariff cuts to make additional finds profitable and to boost exploration in a moment the prospects are getting worse. 

According to a story published by Reuters on Thursday, higher costs and lower oil prices are delaying flagship projects in the Barents Sea. 

On Wednesday, Norway’s Prime Minister Erna Solberg met UK’s Prime Minister David Cameron. They discussed interconnectors between the two countries, proving that energy issues climbed the agenda of both countries. 

Njord Gas, which is owned by Swiss bank UBS and France's Caisse des Depots, is one of the companies that invested %5.1 billion in recent years to acquire stakes in Norwegian pipelines (Gassled). Investors claim that the decision to cut tariffs must be ruled invalid.