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PGNiG SA And Pgnig Supply & Trading Will Monitor The Further Progress Of Nord Stream 2 AG

PGNiG SA And Pgnig Supply & Trading Will Monitor The Further Progress Of Nord Stream 2 AG

Polish energy company PGNiG expressed satisfaction with the decision of the German regulator not to exempt Nord Stream 2 from the requirements of the updated EU Gas Directive, stating its intention to analyze the rationale for it and monitor further actions of Nord Stream 2 AG, the company stated on Friday.

"PGNiG SA and PGNiG Supply & Trading will analyze in detail the content of the decision and its rationale. The companies will monitor the further progress of the case, including possible appeals initiated by Nord Stream 2 AG," the message reads.

"The Polish oil and gas company welcomed the decision of the German regulator. This confirms the strength of our arguments against excluding Nord stream 2 from the scope of application of the provisions of the Third energy package of the European Union. From the very beginning, we believed that Nord Stream 2 could not be privileged. Like the Polish government, we remain of the opinion that the Nord Stream 2 project has negative consequences for the security of supply and competition in the gas market in Central and Eastern Europe," said Jerzy Kweczynski, Chairman of the Board of PGNiG.

"Energy security of poles is one of the priorities of the government. We strongly oppose all monopolistic practices of foreign companies and attempts to divide European clients into the best and worst. Today's decision of the German regulator, which rejected Nord Stream 2's request for preferential treatment, is proof of the effectiveness of our energy policy," said Jacek Sasin, Deputy Prime Minister and Minister of state assets of Poland.

Earlier on Friday, the Federal grid Agency of Germany reported that Nord Stream 2 AG refused to withdraw the Nord Stream 2 project from the rules of the updated EU Gas Directive. The Agency notes that the necessary condition for removing the pipeline from the rules of the updated Gas Directive was its implementation before May 23, 2019.

At the same time, Nord Stream 2 AG pointed out that the concept of "project completion" should be considered more broadly than just from the point of view of construction and technical processes. According to the company, it is necessary to take into account the fact that by the time the new rules came into force, billions of dollars of investment had already been made, taking into account the previous legal situation.

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