PGNiG Reported of a Countroom Victory at a Lawsuit against Gazprom
OREANDA-NEWS. The Polish gas company PGNiG reported that it had won 1.5 billion US dollars in arbitration with Russian corporation Gazprom.
“The victory of PGNiG. The arbitration tribunal in Stockholm announced a reduction in Gazprom’s gas price for PGNiG,” the Polish side’s statement says. The court decided to revise the pricing formula for gas supplies through the gas pipeline Yamal–Europe since November 2014. According to PGNiG, now it will receive compensation of overpayment from November 2014 to February 2020 in the amount of 1.5 billion dollars. The court made possible a more direct connection of the price formula with gas prices in European markets, which will lead to a significant improvement in the terms of commercial activity, PGNiG noted.