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Poland says creation of Nord Stream joint enterprise impossible

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Poland says creation of Nord Stream joint enterprise impossible

Establishment of a joint enterprise, which would be in charge of construction and exploitation of Nord Stream 2 gas pipeline, is impossible due to withdrawal of notification, UOKiK anti-monopoly regulator said on Friday.


Establishment of a joint enterprise, which would be in charge of construction and exploitation of Nord Stream 2 gas pipeline, is impossible due to withdrawal of notification, UOKiK anti-monopoly regulator said on Friday.

Earlier on Friday the project's partners, Engie, Gazprom, OMV, Shell, Uniper and Wintershall, announced that they made a decision to withdraw a notification, submitted to Poland, of a planned establishment of a joint enterprise for implementation of the gas pipeline construction.

The Nord Stream 2 project envisages construction of two pipeline strings with a total capacity of 55 bln cubic meters annually, which went from Russia's coastline through the Baltic Sea to Germany. Gazprom will hold 50% shares in the project, the European companies, OMV, BASF, Engie, Shell, Uniper, will have 10% each.

The new pipeline is planned to be constructed near Nord Stream.

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