Norway gas pipeline investors go to top court over tariff cut: Reuters
A group of investors in Norway’s gas pipeline network are going to the country’s highest court in a final attempt to overturn a government decision to cut pipeline tariffs that came into effect in 2016, Reuters reported. The government owns 45.8 percent of the Gassled pipeline network via state-owned Petoro, while majority state-owned Statoil has 5 percent. The four investors pursuing the case own a combined 43.9 percent stake. They are in turn owned by Allianz Capital Partners, UBS, the Abu Dhabi Investment Authority, Canada’s Public Sector Pension Investment Board, Canada Pension Plan Investment Board and France’s Caisse des Dépôts. The four have argued the cut in tariffs was unlawful and would cost them a combined 15 billion Norwegian crowns (US$1.8 billion) in lost earnings through 2028.
