TLTP
\nWARSAW
\nPoland\u2019s antitrust watchdog UOKiK said it has imposed a $7.6 billion fine on Russia\u2019s Gazprom over the Nord Stream 2 gas pipeline, designed to boost gas supplies to the EU.
\nAccording to the regulator, the direct pipeline from Russia to Germany impedes competition on European Union energy markets and \u201cviolates the interests of consumers.\u201d The fine amounts to 10 percent of Gazprom\u2019s annual revenues \u2013 the maximum allowed penalty. Other companies participating in the construction of Nord Stream 2 have been fined $100 million. UOKiK gave Gazprom and its partners 30 days to terminate financing agreements and \u201crestore\u201d competition.
\n\u201cThe construction of Nord Stream 2 is a clear violation of market regulations,\u201d UOKiK head Tomasz Chr\u00f3stny said in Warsaw on Wednesday, as cited by Bloomberg. Gas prices for consumers must be \u201cthe result of fair competition, and, once Nord Stream 2 is operational, it\u2019s likely that gas prices will increase and there\u2019ll be a risk of interruption to supplies,\u201d he said.
\nWarsaw has long been opposing the expansion of the gas link directly connecting Russia with Germany, Europe\u2019s biggest market for the fuel, arguing it would deepen Europe\u2019s dependence on Russian energy.
\nMeanwhile, many European nations have stressed that they want to diversify their energy sources, and Nord Stream 2 could be one of the ways to achieve that.
\nIn 2019, Poland\u2019s President Andrzej Duda met US President Donald Trump to discuss the possibility of halting the implementation of the Nord Stream 2 project. Warsaw also inked several contracts with American companies to replace Russian supplies. The intention was to make Poland the future center for the re-export of US liquefied natural gas (LNG) in the region, according to US Ambassador to Poland Georgette Mosbacher.
\nThe US administration has repeatedly criticized the Nord Stream 2 project, aiming to derail it in order to boost sales of American LNG to Europe. The construction of the project\u2019s two pipelines, which will extend from the Russian coast to Germany and on to other European countries through the Baltic Sea, is nearing completion. It will have the capacity to deliver 55 billion cubic meters of gas per year, and Berlin has insisted it will help Germany meet its growing energy demand as it phases out coal and nuclear power.<\/p>\n","protected":false},"excerpt":{"rendered":"
TLTP WARSAW Poland\u2019s antitrust watchdog UOKiK said it has imposed a $7.6 billion fine on Russia\u2019s Gazprom over the Nord Stream 2 gas pipeline, designed to boost gas supplies to the EU. According to the regulator, the direct pipeline from Russia to Germany impedes competition on European Union energy markets and \u201cviolates the interests of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-149324","post","type-post","status-publish","format-standard","category-world"],"yoast_head":"\n