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Poland opens case on financing Nord Stream 2

Poland opens case on financing Nord Stream 2

nord stream 2
The Polish antimonopoly regulator UOKiK initiated a case against Gazprom and five foreign companies (Engie, Uniper OMV, Shell, Wintershall) responsible for financing the Nord Stream-2 gas pipeline, reports RMF24.

According to the website of the department, in 2016 Polish officials analyzed the petition for the creation of a joint venture for the construction of the Nord Stream-2 by these six companies and decided that this would lead to a restriction of competition.

UOKiK suspects that, despite the ban on the part of Poland, the companies are jointly implementing the project, financing the Nord Stream-2.

The antimonopoly regulator may fine Gazprom, Engie, Uniper OMV, Shell, Wintershall - each for an amount equal to 10% of the annual revenue, or to demand the sale of a part of the assets of a joint venture, the sale of a controlling stake, or the dissolution of a joint venture.

UOKiK concluded that Gazprom already dominates the Polish gas market, and the new project can further strengthen its negotiating position with Polish customers.

As reported, in Germany, the construction of the Nord Stream-2 gas pipeline began. Not all the countries agreed to the construction, Ukraine and Poland are protesting against Nord Stream 2, fearing further strengthening of Russia's position as a gas monopoly in Europe.

It is assumed that the pipeline will be laid across the Baltic Sea and will connect Russia and Germany, bypassing Ukraine, Poland and the Baltic countries.
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