The Polish subsidiary of NOVATEK was sold to its employees – Kommersant
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The sole shareholder of NOVATEK’s Polish subsidiary Novatek Green Energy is the Swiss Novatek Gas&Power GmbH – sold all your shares in GELEO. The company was previously created by Novatek Green Energy employees for the purpose of repurchasing shares. The deal took place on October 4, TASS was the first to draw attention to it.
Novatek Green Energy is a subsidiary of NOVATEK, against which the Polish government imposed sanctions in April 2022. They provide for the freezing of assets and the introduction of external management.
Following the imposition of sanctions, Novatek Green Energy stopped supplying liquefied petroleum gas to Polish consumers. For this reason, several dozen Polish cities and villages were left without gas supply. The Polish government obliged the company to provide access to its infrastructure to state-owned companies so that they could supply gas to these areas. After this government decision, NOVATEK appealed to the EU Court.
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