Poland: Gazprom hit with record fine by Polish watchdog over Nord Stream 2

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Published on 08 Oct 2020 / In News & Politics

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Poland's market competition watchdog announced record fines for Russia's Gazprom to the sum of PLN 29 billion (€6.5 billion, $7.6 billion) and five EU-headquartered companies including Engie, Uniper, OMV, Shell and Wintershall to a total of PLN 234 million (€52.2 million, $61.4 million) for their involvement in the Nord Stream 2 gas pipeline project, on Wednesday.

The President of the Polish Office of Competition and Consumer Protection (UOKiK), Tomasz Chrostny, stated from Warsaw that the Nord Stream 2 investment "breaches not only European values such as solidarity, but most importantly, it forms a breach of the law and principles of fair competition as well as Poland's energy security."

In the statement, Chrostny announced that "the most serious, maximal financial sanctions" had been made to stop the building and financing of the Nord Stream 2 gas pipeline project. The fines were issues after the watchdog said the pipeline building went ahead without Warsaw's approval.

Gazprom have said they will appeal against the fines.

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