Polish antitrust regulator objects to Nord Stream-2 joint venture

Jul 22, 2016 12:00 AM

Poland’s Office of Competition and Consumer Protection (UOKiK) issued objections to a concentration in which six firms would form a joint venture responsible for construction and operation of the Nord Stream 2 gas pipeline, according to official statement.

Poland’s Office of Competition and Consumer Protection (UOKiK) objected to the establishment of a joint venture for the Nord Stream-2 gas pipeline project from Russia to Germany, UOKiK said Friday.

“UOKiK has issued objections to a concentration in which six firms would form a joint venture responsible for construction and operation of the Nord Stream 2 gas pipeline,” the regulator said in a statement.

The antitrust regulator received an application to create the Nord Stream-2 AG joint venture in mid-December.

“While a statement of reasons is provided with the information about the objections, it does not determine the decision that is eventually issued in the case. As provided for by law business undertakings may present their standpoint with respect to the objections within 14 days from the date on which the objections are issue,” UOKiK added.

The Nord Stream-2 project could deliver up to 55 billion cubic meters of natural gas from Russia to Germany annually via the Baltic Sea. Russia’s Gazprom signed a shareholder agreement to extend the existing Nord Stream with the European energy firms BASF, E.ON, Engie, OMV and Shell.

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