Poland fines Gazprom $7.6 bln over Nord Stream
When complete the Nord Stream 2 pipeline will carry Russian gas to western Europe.
And that isn’t a popular idea in the U.S. and Poland.
Both say it will increase Europe’s dependence on Russian energy, giving Moscow unwelcome leverage.
On Wednesday (October 8) Poland said it was fining the pipeline builder, Russian energy giant Gazprom, 7.6 billion dollars.
That’s for constructing the system without its approval.
The country’s competition watchdog says Nord Stream 2 threatens the continuity of gas supplies to Poland, and will probably also mean higher prices.
Gazprom said it hadn't broken any law and would appeal.
But the fine is a new twist in a tangled web of politics and business.
Many western European nations support Nord Stream 2, which is part financed by firms including Shell and units of Germany’s BASF.
But the U.S. has imposed sanctions on companies laying the pipes.
Now it looks too late to stop the project.
Nord Stream is complete, but for a 75-mile stretch in Danish waters.
Pipe-laying company Swiss-Dutch Allseas had to suspend operations there after U.S. sanctions left it short of ships.
Earlier this month Gazprom said it still planned to finish the pipeline as soon as possible though.
Ending the arguments over it, may prove harder.
