19 August 2016, 17:33 GMT
BRUSSELS (Sputnik) – The European Union's Third Energy Package entered into force in late 2009, sparking disagreements between the European Union and Russia in 2014. The package, aimed at regulating the EU gas and electricity market, prohibits companies from both owning and operating a gas pipeline.
"The Panel expects to issue its final report to the parties in May 2017, in accordance with the timetable adopted after consultation with the parties," the organization said in a document issued Monday.
Russia initiated the dispute in 2014. The same year, Russia halted the implementation of the South Stream pipeline, which was intended to traverse the Black Sea to deliver Russian natural gas through Bulgaria, Serbia, Hungary and Slovenia to Italy and Austria to avoid exporting gas through the territory of Ukraine. Moscow gave up the project as the European Commission was against the implementation of it citing the Third Energy Package.
