Norway Govt Wins Ruling over Lowered Gas Pipeline Tariffs



If the plaintiffs do appeal to the Supreme Court, they must do so by September 16.

 

TARIFF ROW

The government owns 45.8 percent of Gassled via state-owned Petoro, while majority state-owned Statoil has 5 percent.

Some of the companies involved have said the unexpected decision to lower gas transportation tariffs had hurt the image of Norway as a country to invest in.

The government cut tariffs shortly after the four firms bought their stakes in Gassled in 2011 and 2012 from ExxonMobil , Total, Statoil and Royal Dutch Shell for a total of 32 billion Norwegian crowns.

The lowered tariffs took effect on gas transport agreements on October 1, 2016.

The oil ministry said last September the move was in line with its longstanding policy of keeping a pretax return on capital investment in transportation infrastructure at around 7 percent.

"The new tariffs will continue to generate a reasonable profit for Gassled," the ministry said at the time. ($1 = 8.3758 Norwegian crowns) (Reporting by Lefteris Karagiannopoulos; writing by Nerijus Adomaitis and Gwladys Fouche; editing by Jason Neely and David Evans)


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