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Poland’s PGNiG seeks arbitration over Gazprom gasoline overpayments

Bibliometric Details: Issue No: 5 | Issue Month:May | Issue Year:2022

© Reuters. FILE PHOTO: The PGNiG Termika Zeran heat energy web site is considered across Vistula river in Warsaw, Poland August 19, 2015. REUTERS/Kacper Pempel

WARSAW (Reuters) -Polish gasoline monopoly PGNiG issued a name for arbitration to Russian gasoline vendor Gazprom (MCX:) regarding hobby on overpayments it made for between 2014 and 2020, the firm stated in a quarterly document on Thursday.

Chief Financial Officer Przemyslaw Waclawski declined to deliver all through a knowledge conference on the amount PGNiG is claiming from Gazprom but stated it changed into once no longer “exiguous”

An arbitration court docket ruled in March 2020 that pricing from Gazprom needs to be changed to settle into narrative natural gasoline market quotes.

Following the court docket ruling, Gazprom returned an overpayment of $1.5 billion to PGNiG.

“On March 31st 2022, PGNiG despatched to Gazprom a name for arbitration pertaining to its suppose for hobby on amounts overpaid by PGNiG for natural gasoline supplied within the interval November 2014 − February 2020,” the Polish firm stated.

“PGNiG is ready for Gazprom’s response to the choice for arbitration. The case is pending.”

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