Russia’s Gazprom seeks arbitration against Poland’s PGNiG over gas prices

Poland’s main gas retailer, state-owned PGNiG, said on Friday that Gazprom was seeking international arbitration against PGNiG for a contract price revision.

According to the statement by PGNiG, it has been summoned to arbitration before the Arbitration Tribunal based in Stockholm.

PGNiG added that Gazprom had filed a claim to change the price terms for gas supplied by Russia’s gas giant under the Yamal contract signed by the two companies in 1996.

“Gazprom expects a retrospective rise in the contract price as part of Gazprom’s requests for renegotiation of December 8, 2017 and November 9, 2020,” the statement read.

Paweł Majewski, PGNiG CEO, said that Gazprom’s demand to increase the contract price was “groundless”.

He added that PGNiG is prepared to prove this before the arbitration tribunal.


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