Poland Court Cancels $8 Billion Fine Against Gazprom and Nord Stream 2 Partners

The Polish Competition and Consumer Protection Court on Monday annulled the decision of the Polish antitrust regulator to impose fines on Gazprom and five European companies involved in the Nord Stream 2 gas pipeline project.

The regulator UOKiK, which announced the court's decision, stated it would appeal the ruling after reviewing the full text of the decision. The court's ruling can be contested at the Warsaw Court of Appeal and subsequently at the Supreme Court.

The court noted that the joint venture was never established, and the assessment of consequences for the economy, along with efforts by project participants to bypass the law, fall outside the jurisdiction of UOKiK.

It was reported that, following a two-year investigation in 2020, the Polish antitrust body fined Gazprom and Western financial investors, imposing the maximum fine of 10% of revenue, totaling $7.755 billion for Gazprom, $14.8 million for Engie Energy, $8 million for Uniper, $23.4 million for OMV, and $8 million for Wintershall Dea.