11 Oct 2023 12:32

Poland transfers Gazprom's stake in gas transmission JV EuRoPol GAZ to Orlen

MOSCOW. Oct 11 (Interfax) - Gazprom's stake in EuroPol GAZ, the owner of the Polish section of the Yamal-Europe gas pipeline, is being transferred to EuRoPol GAZ itself, following a decision by the Polish authorities.

Polish oil concern Orlen, which following the takeover of gas company PGNiG became the owner of 48% of EuRoPol GAZ, says it now has full control of EuRoPol GAZ.

Poland imposed sanctions against Gazprom in April 2022. The restrictions freeze the rights to shares and other securities of EuRoPol Gaz and dividend payments. The authorities introduced external management with respect to Gazprom's 48% stake.

Russia imposed retaliatory blocking measures against EuRoPol Gaz - for Gazprom, this means a ban on the use of the gas pipeline owned by this company to transport Russian gas through Poland.

The 2,000 km Yamal-Europe pipeline from Torzhok, Russia to Frankfurt an der Oder in Germany can carry around 33 billion cubic meters of gas per year and reached its design capacity in 2006. The Polish section is 683 km long with five compressor stations.