Poles Fined Gazprom $7.6 Billion for Nord Stream-2

Nord Stream - 2

The Polish Office for Competition and Consumer Protection (UOKiK) has fined Russia’s Gazprom and five of its partners in Europe for violating antitrust laws during an antitrust investigation into the construction of the Nord Stream-2 gas pipeline.

According to the statement on the regulator’s website, the Russian gas monopoly has to pay 29 billion zlotys (about $7.6 billion), and its partners involved in the construction of the pipeline have been fined a total of 385 million zlotys ($100 million).

In addition to Russia’s Gazprom, the case involved France’s Engie Energy (registered in Switzerland), Germany’s Uniper, Austria’s OMV, the Netherlands-Britain’s Shell, and Germany’s Wintershall (the latter four are registered in the Netherlands).

“We have legalised the process for the construction and financing of the Nord Stream-2 gas pipeline. The investigation was conducted scrupulously… Within 30 days after receiving the decision, the companies must terminate the contract (for construction),” said the Head of UOKiK Tomasz Khrustny.

He also added that companies can appeal the regulator’s decision.

It should be noted that in August the Polish antitrust regulator fined Gazprom 213 million zlotys (about €50 million) for the construction of the Nord Stream-2 gas pipeline. The company was accused of refusing to provide documents to investigate construction financing.

Bohdan Marusyak

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