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Engie to appeal against penalty imposed by Polish regulator — company

The Polish antimonopoly regulator imposed the largest fine in its history amounting to 40.3 mln euro on Engie, one of the five European investors in the Nord Stream 2 project

© AP Photo/Michel Euler

MOSCOW, November 8. /TASS/. France’s oil and gas company Engie disagrees with claims of the Polish antimonopoly regulator that imposed a 40 mln euro fine for non-assistance in the Nord Stream 2 gas pipeline project case probe and will appeal against it immediately, the company told TASS in a comment on Friday.

Read also

Denmark grants permit for construction of Nord Stream 2 pipeline in its waters

"We are going to appeal immediately. We completely disagree," Engie says in a comment.

Earlier on Friday, the Polish antimonopoly regulator imposed the largest fine in its history amounting to 172 mln zloty or 40.3 mln euro on Engie, one of the five European investors in the Nord Stream 2 project.

In spring 2018, the Polish regulator UOKiK initiated a probe in respect of Gazprom and five international companies because of the Nord Stream 2 gas pipeline project.

Poland’s regulator also prevented Gazprom and its European partners from setting up a single operator for the pipeline's construction. Then, project partners started project financing through loans, rather than through joint ventures. Nord Stream 2 AG, a Gazprom’s subsidiary, acts as the project operator, while European companies fund the gas pipeline construction as lenders.

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