Friday, August 12, 2016

Polish regulator commented on the withdrawal of the application to the joint venture “Nord Stream 2″ – Interfax

Moscow. 12th of August. INTERFAX.RU – After six partners in the project “North Stream 2″ withdrew from the Polish anti-monopoly regulator UOKiK applied for a joint venture – it can not be created, the statement said UOKiK

“Withdrawal of application means. that it is not possible to create six legal entities of the joint venture, which was engaged in the construction of a gas pipeline Nord Stream 2. The red light to the deal, “-. is given in the message comment UOKiK president Marek Nehchava

it was reported earlier, that the partners of the project “North stream 2″ – “Gazprom”, Engie, OMV, Shell, Uniper and of Wintershall – have decided to do without the consent of Poland in the joint venture. According to their joint statement, the project will still be to implement all the same a Swiss project, Nord Stream 2 AG (now it is 100% controlled by “Gazprom”), and “each of the applicants is to search for the contribution to the project possible.”

on Friday, the partners submitted a joint response to the “statement of objections” of the Polish competition authority UOKiK regarding the planned establishment of a joint venture.

“The decision applies only to purchases from” Gazprom “shares in the existing project company Western partners . Future partners will continue their close cooperation and common efforts aimed at strengthening the energy security of gas supplies to Europe “, – stated in a press release

Nord Stream 2 AG itself to the project company in accordance with the antimonopoly law after the revocation. application control stops the proceedings.

The regulator recalls that during the consideration of applications from December 2015 UOKiK conducted extensive market research, in which including asked the participants of the Polish gas market, as well as national energy regulator to assess the proposed concentration. As a result, management has concluded that the transaction could lead to restriction of competition. “Gazprom” has a dominant position in gas supplies to Poland, and the deal could lead to further strengthening its negotiating position in relation to clients in the country.

According to Polish law, the local controller of the transaction, since the involved companies have a significant share of the Polish market.

The application for the creation of the joint venture partners have submitted to regulators in Germany and Poland in December 2015. The German regulator has agreed it in 18 days. Poland took the extra time to process an application, sent additional questions to applicants, and in late July released a formal statement of objections.

“Nord Stream 2″ involves the construction of the 3rd and 4th of thread of the gas pipeline through the Baltic Sea from Russia in Germany, resulting in a total route capacity will increase to 110 billion cubic meters. m per year.

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