Engie Fined $44.6 Million Over Nord Stream 2 Pipeline
November 08 2019 - 11:02AM
Dow Jones News
By Giulia Petroni
Poland's antimonopoly watchdog said Friday that it has fined
Engie SA (ENGI.FR) for failing to cooperate in an investigation
into the construction of Russia's gas pipeline Nord Stream 2.
The French utility company was fined 172 million Polish zloty
($44.6 million) for refusing to provide documents and information
about the agreements it signed with Russian gas supplier Gazprom
PJSC (GAZP.RS), which is leading the pipeline project, the watchdog
UOKiK said. Engie is one of five European firms that provided
funding for Nord Stream 2.
"The company has persistently and unreasonably refused to
provide us with the documents and materials. This caused a
significant delay in our actions in regards to the financing of the
NS2 gas pipeline," UOKiK's Vice President Michal Holeksa said.
Engie will appeal the decision, a spokesman for the company
said.
Polish authorities started investigating the pipeline
construction in August 2016. The country claims Nord Stream 2 is a
threat to Europe's energy security and that it will strengthen
Gazprom's dominant position in the market.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 08, 2019 10:47 ET (15:47 GMT)
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