Establishing of a joint venture by the parties involved in the Nord Stream 2 construction and operation failed to be approved by Poland’s Competition and Consumer Protection Office, TASS news agency reports on Friday.
The application was submitted at the end of 2015 and in winter 2016 the Competition and Consumer Protection Office extended the consideration of the case by half-year. Finally, the regulator decided that the creation of the joint venture might negatively impact competition in the country.
The joint venture includes Russia’s Gazprom, Germany’s Uniper Global Commodities SE, France’s Engi SA, Swiss OMV Nord Stream II Holding AG, Dutch Shell and Wintershall Nederland BV. The companies intended to complete the buyout of their stakes in the joint venture following Poland’s approval.