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< European gas transmission operators making mixed progress on transparency | Norway puts offshore wind projects on hold >
Wingas blames regulator for collapse of plans to build 500km pipeline in Germany
Wingas has abandoned plans to build a 500km pipeline, known as SEL, across southern Germany.
The German gas company blamed regulatory pressure for the surprise move, but energy regulator Matthias Kurth denied that the recent decision to bring long-distance pipelines under his regime made the project uneconomic. "I can't help firms that find returns of over 9 per cent inadequate," said Kurth.
Wingas, a Gazprom-Wintershall joint venture, said "increasingly unclear conditions for the operation and development of long-distance pipeline routes" had forced it to abandon SEL. The 8 billion cubic metre scheme - a joint project with Eon's EGT - would have brought Russian gas from the Austro-German border at Burghausen to the Frankfurt region from 2015. EGT has said it will not pursue SEL on its own.
Wingas managing director Ingo Neubert said "more clarity" was needed before investment decisions could be approved. He said last month's Federal Network Agency (FNA) decision to apply incentive-based regulation to pipeline operators from January 2010 had changed the commercial landscape.
Wingas and other gas transmission system operators have already announced a legal challenge to the FNA ruling, labelling cost-based regulation of each pipeline as bureaucratic and inflexible.
Wingas denied that the credit crunch had played any part in its decision to scrap the €600 million investment, or that Wingas and Eon were trying to force the FNA to grant regulatory exemption for the Opal and NEL gas pipelines.
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