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The Polish Antitrust Authority Fined Gazprom

The Polish Antitrust Authority fined Russian state energy company Gazprom on the grounds that the project is harming Polish consumers.

The Polish Antitrust Authority Fined Gazprom
Yazar: Tom Roberts

Yayınlanma: 8 Ekim 2020 01:27

Güncellenme: 22 Kasım 2024 10:34

The Polish Antitrust Authority Fined Gazprom

The Polish Antitrust Authority fined Russian state energy company Gazprom EUR 6.5 billion for its role in building the Nord Stream 2 gas pipeline to Germany on the grounds that the project is harming Polish consumers. The Polish Competition and Consumer Protection Authority said on Wednesday that it had also fined five other foreign companies involved in the project, for a total amount of 52 million euros.

Gazprom will appeal

Gazprom said it would appeal and consider the fine illegal because, it said, it had not violated Poland's antitrust laws. "This unprecedented amount of the fine proves that Poland is trying to prevent the North Stream 2 project from being implemented in all possible ways," Gazprom said in a statement.

Concerns about rising gas prices

Poland strongly rejects the pipeline, which is in the final stages of construction and is to transport Russian natural gas across the Baltic Sea to Germany and Western Europe outside the traditional transit routes passing through Ukrainian and Polish territories. According to the Antimonopoly Office, the pipeline could lead to higher gas prices in Poland and harm consumers. "The launch of the North Stream 2 gas pipeline will jeopardize the continuity of natural gas supplies to Poland. An increase in the price of the product, which will be borne by Polish consumers, is also very likely," said Tomasz Chrostny, head of the antitrust authority. "The completion of this investment project increases the economic dependence on Russian gas not only in the case of Poland, but also in other European countries," he added. Other companies that have been fined in Poland are Engie Energy, Austrian Mineral Oil Administration, Shell, Uniper and Wintershall. Companies can appeal against the penalty. Russian energy giant Gazprom has already said it will appeal against the fine.
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