The Board of Directors of Gazprom approves termination of agreement of Nord Stream 2 AG shareholders, the statement released by Russian gas holding reads.
This decision was made unanimously at a session of the Board of Directors held on the 9th of November.
Nord Stream 2 AG was established for the purpose of planning, construction and further exploitation of Nord Stream 2 pipeline. The company’s headquarters is located in Switzerland.
Earlier, Gazprom and its European partners - Shell, OMV, Engie, Uniper and Wintershall, intended to set up a joint enterprise implementing Nord Stream 2 and submitted a corresponding application both to German and Polish antimonopoly regulators. The companies asked the permission to create a joint enterprise – a project structure building the pipeline across the Baltic Sea.
While Germany approved this decision, Poland rejected it, claiming that the joint enterprise might lead to restriction of competition.