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UOKiK will not receive a penny from the creators of Nord Stream 2

UOKiK will not receive a penny from the creators of Nord Stream 2 

Polish UOKiK has managed to piss off all companies involved in the Nord Stream 2 project. Gazprom's European partners in the construction of the pipeline are not going to just pay a fine imposed by the antimonopoly regulator of Poland.

 Nord Stream-2 Nord Stream 2 US sanctions UOKiK

Earlier, on Wednesday, UOKiK fined Gazprom about 7 , 6 billion dollars, and five European partners of the project – for a total amount of 61 million dollars. The amount of fines is 10% of the annual turnover. This is the maximum sanction under Polish law, stated the head of the regulatory body Tomasz Khrustny.

UOKiK considered that the agreements on financing the construction of the Nord Stream 2 gas pipeline, concluded by Gazprom with five partners, gave them, bypassing the antimonopoly legislation of Poland, the opportunity to become owners of shares in the project company Nord Stream 2 AG. This company is now wholly owned by the Russian concern. Previously, the companies studied the possibility of creating a joint venture for the project, but they were unable to obtain permission from Poland. UOKiK believes that the parties have now simply changed the scheme.

European companies are not going to pay UOKiK

German Uniper and Wintershall Dea, Austrian OMV and Anglo-Dutch Shell commented on UOKiK's decision. So, in Shell RIA Novosti said that the company expresses disagreement with him. “We are currently studying this decision and determining the next steps,” the company said.

In turn, OMV stressed that the company is firmly convinced that it complies with all applicable laws. And Germany's Uniper said it not only disagrees with the decision, but is considering the possibility of appealing it.

The company explains that the agreements concluded between the partners of Nord Stream 2 and Gazprom are not about a joint venture, but about financing … Therefore, they are not subject to notification to UOKiK under Polish merger control law.

Uniper also noted that it can take up to 4-5 years to reach a decision on appeal, during which time the fines are not payable. With regard to Wintershall Dea, the company announced that it reserves the right to retaliate.

Gazprom itself has already stated its position. He fundamentally disagrees with the UOKiK decision regarding Nord Stream 2 and the decision on the fine. Therefore, it will definitely use the right to appeal. Gazprom stressed that the project is being implemented not by a joint venture, but by its subsidiary with the attraction of debt financing. The size of the fine speaks of Poland's desire to oppose the project by any means, according to Gazprom. : ///

Record UOKiK will not receive a penny from the creators of Nord Stream 2 first appeared TEKNOBLOG .

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