By MOSCOW. Nov 22 (Interfax) – The Polish Court of Competition and Consumer Protection on Monday overturned the decision of the Polish antimonopoly regulator to impose fines on Gazprom and five European companies participating in the Nord Stream 2 gas pipeline project.
Office of Competition and Consumer Protection or UOKiK said in a statement that it would appeal the ruling after studying it. The ruling can be challenged at the Warsaw Appeals Court and then the Supreme Court.
The court said a joint venture was never created, and the assessment of the consequences for the economy, as well as the attempts by the project participants to circumvent the law, is outside UOKiK’s jurisdiction, according to the press release.
In 2020, UOKiK announced after a two-year investigation that the loan agreements between Nord Stream 2 AG, Gazprom and western financial investors to finance the Nord Stream 2 gas pipeline project were, according to Polish antitrust law, a concentration of business, so, according to Polish officials, the regular was supposed to be notified. UOKiK therefore issued a fine to Gazprom and its western financial partners.
The regulator imposed the maximum fine, in the amount of 10% of revenue, which came to $7.755 billion for Gazprom, $14.8 million for Engie Energy, $8 million for Uniper, $23.4 million for OMV and $8 million for Wintershall Dea.
