PGNiG says Gazprom did not reduce gas prices

Poland’s dominant gas firm PGNiG claims that Russian giant Gazprom has not reduced gas prices despite a court ruling last month.

The arbitration tribunal in Stockholm ruled in March that Gazprom must pay PGNiG about $1.5 billion in a pricing dispute case.

The court also ruled that a gas pricing formula in PGNiG’s Yamal long-term contract with Gazprom should be changed. This is to take into account natural gas market quotations.

“Gazprom is not honouring the award issued following the long arbitration process, continuing to issue invoices based on the invalid pricing formula”, PGNiG said in a statement on Friday.

PGNiG added it would consider notifying the European Commission of Gazprom’s “anti-competitive practices involving its failure to comply with the arbitration award”.

PGNiG currently mainly imports natural gas via pipeline supplies from Gazprom under the Yamal deal.

The company previously said Poland would stop importing Russian pipeline gas in 2022 when the country’s contract with Gazprom exipres.

In the meantime, the company has continued to increase imports of liquefied natural gas (LNG) via Poland’s only regasification facility in Swinoujscie.

PGNiG imported 0.98 billion cubic meters of LNG into Poland in the first quarter of this year.

This represents a 34.2 per cent increase year-on-year when compared to the January-March period in 2019.

In 2019, PGNiG imported 3.43 billion cubic meters of LNG, a rise of more than 25 percent on the year.

- Advertisements -

Most Popular

Interview: Maria Angelicoussis and Sveinung Stohle talk LNG fleet expansion plans

Greek shipping giant Angelicoussis has secured long-term charters for almost all of the newbuild LNG carriers it has ordered...

Cheniere, OMV seal long-term LNG supply deal

US LNG exporting giant Cheniere has signed a long-term deal with Austrian energy firm OMV to supply the latter...

Commonwealth LNG inks carbon capture and storage pact

Commonwealth LNG has entered into a deal with OnStream CO2 for a carbon capture and storage solution at its...

More News Like This

BW LNG, MOL shortlisted to provide Poland’s first FSRU

Oslo-based BW LNG, a unit of Singapore's BW, and Japan's MOL have been shortlisted by Gaz-System to provide Poland's...

Gaz-System signs Gdansk FSRU deals

Poland’s Gaz-System has finalized two deals related to the development of its FSRU-based LNG import project in Gdansk Bay. The...

Knutsen, Orlen name two LNG carriers in South Korea

Norway's Knutsen and Poland's Orlen named two newbuild liquefied natural gas (LNG) carriers in South Korea. The delivery ceremony for...

Russia’s Gazprom launches small-scale liquefaction plant

Russian gas giant Gazprom has recently launched a small-scale liquefaction plant in the Amur region of Russia's Far East. The...