Poland will receive $1.5 billion overpayment for gas from Gazprom

Until July 1, Gazprom will pay the Polish state-owned company PGNiG $1.5 billion in overpayment for gas following a decision of the Stockholm arbitration, Business Censor reports.

PGNiG announced that it had signed an addendum to the agreement on gas supply through the Yamal-Europe gas pipeline of 1996 (on June 5 the document was signed in electronic form, and on June 15 on paper, with the exchange of the original documents) with Gazprom Export.

The Polish company notes that Gazprom agreed on a payment deadline of July 1, 2020.

It is also noted that in the future the price of the contract may also be revised – based on the request of the buyer.

Recall that in late March PGNiG announced that it had won $1.5 billion in arbitration against Gazprom. The court decided to adjust the price formula for the contract for gas supplies to Poland through the Yamal-Europe gas pipeline.

Then PGNiG announced that Gazprom had billed for gas under old conditions, without taking into account the decision of the Stockholm arbitration.

Later it was reported that it was wanted to seize Gazprom’s assets in the Nord Stream 2 project in Poland.

In late April, the Polish state-owned company PGNiG announced that Gazprom had agreed to change the price of gas supplies following a decision of the Stockholm arbitration.

Tags: Gazprom, gas, contracts, Stockholm arbitration, court, legislation, EU, gas imports, energy market, GTS, RF, foreign affairs, gas exports, debt, Gas market, pipeline, agreement, gas supplies, infrastructure, Poland, natural gas, oil and gas industry

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