PGNiG S.A. & PST Will Participate in the Court Proceedings for Nord Stream 2

Source: 7/30/2020, Location: Europe

Polish Oil and Gas Company S.A. and its German subsidiary PGNiG Supply & Trading sent a letter to the Dusseldorf Higher Regional Court expressing willingness to participate in the court proceedings regarding derogation from the application of the Third Energy Packageís provisions for the Nord Stream 2 as other parties of the proceedings. The procedure was initiated upon an appeal by Nord Stream 2 AG against unfavourable decision of the German energy market regulator (Bundesnetzagentur) of May 15, 2020.

Active participation in the proceedings will ensure PGNiG S.A. and PST the right to participate in hearings, access to the files of court proceedings and the right to comment on the positions presented by the parties - Nord Stream 2 AG and the German energy market regulator. In the view of the PGNiG Capital Group, this form of participation in the proceedings will be the most effective way to safeguard the interests of the companies and the Republic of Poland.

The letter sent by the companies is in line with the current strategy of the PGNiG Capital Group and the Republic of Poland to present by all available legal means the negative consequences of the Nord Stream 2 project for the security of supply and competition on the gas market in Central and Eastern Europe.

The Nord Stream 2 AG company, the Nord Stream 2 investor, sought to utilize the gas pipeline transporting gas from Russia to Germany without third party access, unbundling or applying transparent and market tariffs. Therefore, on January 10, 2020, Nord Stream 2 AG submitted a request for a derogation to the Bundesnetzagentur. On March 18, 2020, PGNiG S.A. and its German subsidiary PST were admitted to the proceedings based on the joint application submitted on February 19, 2020. On May 15, 2020 the German regulator shared the view presented by the companies and rejected the application submitted by Nord Stream 2 AG.

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