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Actions of Poland’s regulator will not affect Nord Stream 2, says operator

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

MOSCOW, November 8. /TASS/. The decision of Poland’s antimonopoly regulator to impose a fine on French Engie for refusal to cooperate in the Nord Stream 2 gas pipeline construction case will not affect implementation of the project, press secretary of Nord Stream 2 AG, Jens Mueller told TASS on Friday.

"Polish anti-monopoly office’s move does not relate to the implementation of the Nord Stream 2 project as such," Mueller said. "The implementation of Nord Stream 2 is based on and is in compliance with all applicable laws and regulations. Nord Stream 2 has received all necessary permits from all countries, whose waters and territories it passes, and continues as planned," he noted.

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. The company told TASS it would appeal against the fine.

The Poland’s regulator also prevented Gazprom and its European partners earlier from setting up a single operator for construction of the pipeline. 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 finance gas pipeline construction as lenders.

"Nord Stream 2 does not undermine gas market competition but, on the contrary, improves it," the operator’s press secretary added.

The Nord Stream 2 offshore gas pipeline project involves construction of two lines with the total capacity of 55 bln cubic meters of gas per year from the coast of Russia across the Baltic Sea to Germany. The pipeline route goes through exclusive economic zones and territorial waters of Russia, Finland, Sweden, Denmark, and Germany.