Njord issues notice of intention to bring legal action against the Norwegian State, represented by the Ministry of Petroleum and Energy

 

Njord issues notice of intention to bring legal action against the Norwegian State, represented by the Ministry of Petroleum and Energy

11 July 2013

We refer to the stock exchange announcements of Njord Gas Infrastructure AS (the “Company”) on 15 January, 15 March and 27 June 2013. We also refer to the decision of the Ministry of Petroleum and Energy (the “MPE”) of 26 June 2013 to amend the tariff regulations (the “Tariff Regulations”) from 1 July 2013.

In response to the MPE’s amendments in the Tariff Regulations, the Company has today issued a Notice of Intention to Bring Legal Action (the “Notice”) against the Norwegian State represented by the MPE in accordance with section 5-2 of the Norwegian Dispute
Act (Norw: tvisteloven).

In the Notice, the Company explains its views that the MPE’s decision is without legal basis and must therefore be declared invalid. On this basis, the Notice contemplates that the Company would claim compensatory damages for the loss the Company suffers as a result of the decision. The Company’s views on its legal rights were detailed in its submission to the MPE dated 15 March 2013. That submission was lodged in response to the MPE’s consultation paper dated 15 January 2013 regarding the Tariff Regulations. The submission is available at www.njordgasinfra.no and in the Company’s stock exchange notice dated 15 March 2013. As a measure to limit the State’s potential liability in damages, the Company has requested that the MPE takes an initiative to amend the ‘Terms and Conditions for Transportation of Gas in Gassled’ to include a regulation hereby the shippers are made responsible for paying the difference between the reduced and the original tariffs should the decision to amend the Tariff Regulation be declared invalid. The Company awaits the MPE’s response to the Notice. The law firm Advokatfirmaet Selmer DA will act as counsel for the Company in the event of such legal
action.

The Company owns 8.036% of Gassled. We will continue to fulfill all of our obligations as an owner.

11 July 2013
Njord Gas Infrastructure AS

The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and the Oslo Børs – Continuing Obligations.

Njord Gas Infrastructure AS is headquartered in Stavanger, Norway. It invests in Norwegian gas infrastructure and currently holds an 8.036% participating interest in Gassled. For more information, please refer to http://www.njordgasinfra.no/.

For information, please contact:

Birte Norheim, Finance Director
+47 51911064 office
+47 95293321 mobile

Dan-Jarle Flølo, CEO (Media)
+47 51911067 office
+47 90113159 mobile