“Gazprom” promised Poland to return $1.5 billion overpayment for gas

The Russian monopolist “Gazprom” is obliged to return the Polish state gas company PGNiG $1.5 billion overpayment for gas.

PGNiG announced on 15 June that this item is contained in the Annex to the agreement on the supply of natural gas dated September 25, 1996, known as the Yamal contract. Annex to the contract was signed in June.

“By signing the application, we agreed that the amount of the overpayment, which is approximately $1.5 billion (about 6.2 billion zlotys), will be transferred to the account of the PGNiG until July 1, 2020,” – said the Chairman of the management Board of PGNiG Jerzy Kwiecinski.

In pol, the company said that in addition to the agreement approved a new formula for calculating the price at which the cost of gas will be calculated from November 2014. The new formula tied to prices of gas to markets in Western Europe, whereby PGNiG buys gas at a lower price, reminded the press service.

“The Annex sets out rules for application of formulae for the calculation of prices determined by the decision of the arbitration court in Stockholm, and the terms of the settlement of the financial consequences arising from the application of the new formula to the previously completed gas supplies”, – reported in PGNiG.

Kwiecinski stressed that the amount Poland overpaid for gas in November 2014 – February 2020 “shows how bad was the Yamal contract for PGNiG”.

At the end of March the Stockholm arbitration court ruled in favour of Poland in a five-year dispute with “Gazprom” about the price of gas. The court recognized the just demands PGNiG to change the price formula in the agreement signed with Russia in 1996 of the contract because it was non-marketed and overpriced, announced PGNiG. The new formula should be applied to gas deliveries as of 1 November 2014. PGNiG estimated compensation for the overpayment of $1.5 billion.

“Gazprom export” declared that it is studying the court’s decision. But on April 24 PGNiG announcedthat Russia does not fulfill it, since “Gazprom” has put her gas bill on the old terms.

27 April sDeputy energy Minister of Poland Janusz Kowalczyk said that the Polish government is considering the seizure of assets of “Gazprom”to force it to implement the decision of the Stockholm arbitration. “It would be nice” in the beginning to arrest the shares of Nord Stream AG and 2 Nord Stream AG, which engaged in the projects of gas pipelines “Northern stream” and “Nord stream – 2,” said Kowalczyk. This may delay the implementation of the project “Nord stream – 2,” he said.

After the application of Kowalczyk Gazprom agreed to revise the price of gas to PGNiG. The Russian monopoly has promised to correct the invoices for gas deliveries in March and April 2020, reported the Polish company.

Dispute PGNiG and Gazprom in the Stockholm arbitration began in 2016. The Yamal contract, signed in 1996, provides for the delivery to Poland from Russia of 10 billion m3 of gas per year. The agreement is valid until 2022. PGNiG said that they do not intend to renew the contract.

Leave a Reply

Your email address will not be published. Required fields are marked *

Releated

The EU supports the Belarusian people – Borrell

Vice-President of the European Commission, high representative of the Union for foreign Affairs and security policy Josep Borrell supported the demonstrators who took to the streets of Belarusian cities. About this he wrote in Twitter on Sunday, August 16. “Hundreds of thousands of Belarusians went out today on a peaceful demonstration, demanding the release of […]

Adviser to trump denies the media reports about the alleged intentions of the White house to meet with Putin before the election

Advisor to the President for national security Robert O’brien denied that the us President intends to meet with Russian President Vladimir Putin before the presidential elections in the United States. About it the adviser said in comments to NBC News on August 16. Earlier on Sunday, the channel, citing sources reported that trump was considering […]

Workers of two factories in Belarus, announced the strike Monday

Labor collectives of the plant “Belaruskali” and refinery “Naftan”, on August 16 announced that Monday, August 17, join the nationwide strike in Belarus, reported the news portal TUT.BY. The workers demanded to release all political prisoners and participants of peaceful demonstrations, the resignation of Alexander Lukashenko, the holding of fair and transparent elections, and investigations […]

Russia was seen paddy wagons and unmarked rooms, which were moving toward the border with Belarus – Conflict Intelligence Team

From Russia to the border with Belarus, according to eyewitnesses, moving cars similar to police cars, unmarked. About this in Facebook the evening of August 16, said the investigative group Conflict Intelligence Team (CIT). “The information about the transfer of personnel of Regardie towards Belarus seems to be confirmed”, – stated in the message. The […]