Gazprom's shares fall 1.7% after Poland fines N Stream-2 partners

MOSCOW/WARSAW, Oct 7 (PRIME) -- The shares of Russian gas giant Gazprom fell 1.7% on the Moscow Exchange on Wednesday after the antitrust authority of Poland obliged partners of the company to break the financing contracts on financing of the Nord Stream-2 pipeline within 30 days and imposed a U.S. $60 million fine on them, as the ruler said in a statement.

"We finished investigation of Nord Stream-2 pipeline construction yesterday. We say that construction continues without consent by the antimonopoly authority of Poland," Head of Poland's authority UoKiK Tomasz Chrostny said at a briefing.

"Under a decision by the UOKiK, the companies must break the agreement that they signed for construction of Nord Stream-2."  

Poland imposed a $7.6 billion fine in the Nord Stream-2 case, he said.

"Gazprom and five partner companies were fined 10% of annual turnover, the maximum under the Polish law," Chrostny said.

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Russian gas giant Gazprom is implementing the project together with Germany’s E.ON and BASF, Royal Dutch Shell, Austria’s OMV, and France’s Engie.

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