Orlen Takes Over Polish Segment of Yamal Gas Pipeline, Reducing Gazprom Stake
(Reuters) — Orlen is taking over the Polish section of the Yamal gas pipeline, the state-controlled refiner said on Tuesday, meaning Russia's Gazprom will no longer have a stake.
Poland had previously said that it intended to take over the Russian company's 48% stake in Europol Gaz, which owns the Polish section of the Yamal pipeline.
Orlen said that under the deal Europol Gaz would buy back Gazprom's shares in the company and Orlen would take control over the system of gas transit pipelines.
Previously Orlen and Gazprom both had 48% stakes in Europol Gaz.
"We are putting an end to Russian influence in the Polish gas transit system," Orlen Chief Executive Daniel Obajtek said in a post on social media platform X, formerly known as Twitter. "Today's decision is a step towards restoring full control of Polish entities over the country's strategic gas infrastructure."
Orlen said the announcement followed a decision from Polish antitrust watchdog UOKiK which allowed it to take control of the pipeline system.
While Europol Gaz owns the 684-kilometer (425-mile) long Polish section of the Yamal, the pipeline is operated by Polish state-owned gas transmission company Gaz-System.
In 2022, Poland imposed sanctions on Gazprom and said its assets would be frozen after sanctioning 50 Russian oligarchs and companies in April, including Gazprom, in a move to increase pressure on Moscow over its invasion of Ukraine.
Russia at the same time halted gas exports to Poland after Warsaw refused to pay in rubles.
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