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Polish Briefing 7 May, 2018 9:00 am   
Editorial staff

Polish Briefing: Submission of the Commission will give Gazprom funds for Nord Stream 2

What goes on in Poland on the 7th of May.

Submission of the Commission will give Gazprom funds for Nord Stream 2

In an article for Politico.eu, the president of PGNiG, Piotr Woźniak referred to the leak of documents published by BiznesAlert.pl. According to him, a scenario in which the attitude of Brussels will allow Gazprom to save on penalties and invest these funds in the construction of the controversial Nord Stream 2, would be ironic.

The CEO said that the European Commission’s too delicate approach to Gazprom in the course of the antitrust investigation is a “scandal” because the only intention of the Russians is to monopolize the gas market in Central and Eastern Europe.

– When I heard that the European Commission wants to resolve antitrust proceedings against Gazprom in 2017, I was surprised. After hearing the leak of confidential documents from the investigation, I am disappointed and embarrassed – wrote President Woźniak.

He recalled that the proceedings against the Russian company were initiated in 2011 and it was only in 2015 that the Commission presented reservations (the so-called Statement of Objections). – In 2017, Gazprom presented its proposals for a settlement that allegedly meant that gas prices for Central and Eastern Europe would be competitive. The Commission accepted these proposals despite the opposition of a number of companies from Central Europe and the Member States. In 2017, about 20 companies criticized these proposals – said Woźniak.

US pressure is threatening Nord Stream 2. Banks are considering retreat

During the last visit of German Chancellor Angela Merkel in the USA, the future of the Nord Stream 2 gas pipeline was one of the topics of talks with Donald Trump. The Panorama news service on German state television Das Erste reports that banks from Germany are already considering withdrawing from the gas pipeline. – The project may end in failure due to pressure from the USA – stress journalists.

The significance of this gas pipeline for Americans is to be confirmed by the fact that Nord Stream 2 appears in the CAATSA sanctions act, i.e. proposals for restrictions on US adversaries, such as Iran and North Korea. – One of the sub-points states that the US government should act against the Nord Stream 2 gas pipeline. It gives the possibility of introducing sanctions against companies involved in the construction and financing of the gas pipeline – Panorama reminds.

– This raises a great deal of anxiety in German business, because apart from BASF, the project was also involved in the Uniper energy generator worth a billion dollars. These companies may expect fines in the future, because in similar cases in the past they had to pay European banks – alarmue German television. “US authorities can initiate investigations that threaten costly processes in the United States, and at the same time the business in America will be a big question mark – says Panorama Michael Harms of the German Economic Commission for the East (Ost-Ausschuss der Deutschen Wirtschaft). – There is great uncertainty. This is obviously a poison for long-term strategic involvement – he emphasizes.



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