On 6 October 2020 the Office of Competition and Consumer Protection (UOKiK) fined Gazprom and five other firms engaged in the construction of the Nord Stream 2 gas pipeline a record €6.5 billion for concluding agreements without the authority s consent.
Decision
The UOKiK stated that Gazprom, Engie Energy, Uniper, OMV, Shell and Wintershall had not obtained the UOKiK s necessary approval for a joint venture, but had concluded a number of agreements on the financing and other authorisations for Nord Stream 2, which effectively confirmed their significant and indispensable role in the entire project .
Further, by agreeing on a pledge on the shares of Nord Stream 2, the financing parties became quasi-shareholders of that company. In the event of its default under the loan agreement, they would be entitled to take over the shares of the company constructing the gas pipeline. The UOKiK stated that the advantages and obligations stemming from participation in the undertaking were