Oil & Gas

03 Aug 2020

Poland Fines Gazprom $57 million over Nord Stream 2

03 Aug 2020  by Agnieszka Barteczko   

 The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019.

Poland’s antimonopoly watchdog UOKiK said on Monday it had fined Gazprom 213 million zloty ($57 million) (GAZP.MM) for lack of cooperation in its proceedings with regard to the Nord Stream 2 pipeline project.

Poland opposed the pipeline, which will pump gas from Russia to Germany via the Baltic Sea, saying it would only strengthen Gazprom’s dominant position on the European gas market.

UOKiK has been examining the project for years, arguing that the joint venture betweeen Gazprom and five European companies responsible for the construction of the gas pipeline will undermine competition.


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