Date: 2 weeks ago   Category: Energy

Gazprom called the expected terms of the arbitration award on a dispute with the Polish PGNiG — Rambler News Service


Gazprom expects that the Stockholm arbitration will make the final decision in the claim of the Polish oil and gas company PGNiG in the II-III quarter 2019. It is said in materials of the Russian gas holding. "The next hearings of the case took place on March 18, 2019... The final decision on business can be made at the end of the second - the beginning of the third quarter 2019" — Gazprom notes. Earlier the head of PGNiG Pyotr Wozniak said that the Polish company expects that judicial proceedings in the claim of the company to Gazprom will end until the end of 2019. In February, 2016 the Polish oil and gas concern PGNiG submitted a claim to Gazprom and OOO "Gazprom export" to the Stockholm arbitration, challenging the price of the Russian gas. The company noted that a claim is submitted within the arbitration process begun in May, 2015. The claim challenges price conditions of the long-term contract signed in 1996. At the end of June, 2018 the Arbitration tribunal in Stockholm made the intermediate decision on the claim of PGNiG on revision of the prices of supply of gas on the long-term contract of 1996. Arbitrators recognized that the Polish company has the right to demand reduction of price of deliveries on the Yamal — Europe gas pipeline. At the same time Gazprom reported that the arbitration completely refused to PGNiG the change in price according to the requirement stated by the company during trial. At the same time the Russian company did not agree with conclusions of arbitration tribunal about presence at tribunal of powers to change a price formula at own discretion in this connection in October Gazprom appealed against the intermediate arbitration award.

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