Polish Competition Watchdog Fines the Companies behind Nord Stream 2
Polish Competition Watchdog Fines the Companies behind Nord Stream 2

Author(s): Bartosz Bieliszczuk, Szymon Zaręba
Subject(s): Politics, Environmental and Energy policy, International relations/trade
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Poland; Polish Competition; Nord Stream 2;
Summary/Abstract: On 7 October, the president of the Polish competition watchdog, UOKiK, imposed a penalty of more than PLN 29 billion (€6.4 billion) on Gazprom and more than PLN 234 million (€52 million) in total on five European companies participating in the construction and financing of the Nord Stream 2 (NS2) gas pipeline. The reason cited is that the companies made agreements to finance and build NS2 without UOKiK approval as required by law. The watchdog also required the firms to terminate the financing agreements. The companies will most likely appeal the decision, and Gazprom together with Russian authorities (who control the company) will claim that UOKiK’s action is politically motivated. Despite such allegations, the penalty is the effect of non-transparent activities related to NS2, an issue that has been red-flagged by Poland for years.

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