Russia’s Gazprom said on Wednesday it will “certainly” appeal against its €6.46 ($7.6) billion fine imposed by the Polish antimonopoly authority UOKiK, Kallanish Energy reports.
The company said in a statement that it disagrees with the UOKiK’s decision on Oct. 6, accusing Gazprom and European companies of setting up a joint venture to implement the Nord Stream 2 project. Polish authorities argue such implementation was done without its consent and violates competition rules.
However, Gazprom argued that the controversial natural gas pipeline wasn’t implemented by a joint venture, “but by a subsidiary of Gazprom with the attraction of debt financing.”
The giant gas producer leading the construction of the Russia-to-Germany gas pipeline claims the UOKiK decision “indicates a desire to oppose the implementation of the Nord Stream 2 project by any means.”
According to Gazprom, the fine violates the principles of legality, proportionality and fair trial, not the antimonopoly legislation of Poland.
UOKiK had already threatened to fine and issue penalty to Gazprom and other European companies backing the project. On Tuesday, it announced the loan agreements between Nord Stream 2 AG, Gazprom and the financial investors Shell, OMV, Engie, Uniper and Wintershall constituted concentration within the meaning of the antitrust laws of Poland.
The authorities in Warsaw have also issued an order to terminate the loan agreements for the Nord Stream 2 project.
This post appeared first on Kallanish Energy News.