The Polish court of appeal upheld a decision to dismiss fines imposed on Gazprom (MCX:GAZP) and its European partners by the Office of Competition and Consumer Protection (UOKiK), in relation to the Nord Stream 2 pipeline project. The news was reported by Puls Biznesu.
Previously, UOKiK had fined Gazprom $7.6 billion, while its partners Engie Energy, Uniper, OMV, Shell (LON:SHEL), and Wintershall were collectively fined $61 million. The penalties were imposed due to the formation of an unapproved de facto joint venture, viewed as an infringement of antitrust laws.
However, these fines were rescinded by a lower court for competition and consumer rights in November 2022. Today's decision by the court of appeal reaffirms this ruling, thereby requiring no formal payment from Gazprom or its partners.
The companies were initially penalized for forming a company without regulatory approval for managing the construction and use of the Nord Stream 2 pipeline. This decision by the Polish courts effectively cancels these penalties, marking a significant development in the ongoing saga surrounding this major energy project.
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