Nord Stream 2 v. EU Nord Stream 2 AG v. European Union (PCA Case No. 2020-07)
European Union
Investments in a pipeline project to transport gas from the Russian Federation to the German coast via the Baltic Sea, including contracts for the supply of pipes, long term gas transportation agreements and financing agreements with several lenders.
Claims arising out of the EU’s actions related to the EU Gas Directive amendment of 2019 that impact new gas transmission lines to and from third countries and allegedly put the Nord Stream 2 gas pipeline project at a disadvantage, by treating it as ineligible for a derogation from the amended Directive that existing pipelines benefit from.
Tertiary: H - Transportation and storage
Tertiary: F - Construction
49 - Land transport and transport via pipelines
42 - Civil engineering
PCA (Permanent Court of Arbitration)
Ramírez Hernández, R.
Unterhalter, D.
Sands, P.
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Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures


Indirect expropriation