• Monday, 01 July 2024

Poland takes Gazprom pipeline subsidiary into administration

Poland takes Gazprom pipeline subsidiary into administration
Poland has taken Europol Gaz, a subsidiary of Russia's state-controlled Gazprom, into administration to prevent paralysis in the pipeline company's decision-taking process, Development Minister Waldemar Buda said in Warsaw on Monday. Europol Gaz operates part of the Yamal gas pipeline connecting Russian gas fields to Poland and Germany through Belarus. Buda said the aim was to safeguard critical infrastructure for transporting gas. He added that under the Polish constitution nationalization was ruled out. This had led to the decision to order that the company be placed in administration. Europol Gaz operates the Polish section of the pipeline along 684 kilometres. The pipeline transports gas from the Yamal Peninsula in Siberia. It is not currently carrying any gas to Germany. Europol Gaz is owned to 48% by a Gazprom subsidiary and to a further 48% by Poland's PGNiG. In response to the Russian invasion of Ukraine, the Polish Interior Ministry imposed sanctions on Gazprom in April, freezing shareholder rights.