Personal Finance

“Gazprom” through the court demanded to increase the price of gas for Poland

Gazprom has filed a lawsuit against the Polish oil and gas company PGNiG after unsuccessful negotiations to renegotiate a gas supply contract. This was reported in PGNiG on Friday, January 14th.

The Russian company applied to the Arbitration Court of Stockholm for PGNiG to increase the contract price, the Polish side said.

“On January 14, 2022, PGNiG received a lawsuit from a representative of Gazprom PJSC and Gazprom Export LLC to the Stockholm Arbitration Court regarding the requirement to change the price conditions for gas supplied under the Yamal contract,” the website companies.

Chairman of the Board of PGNiG Pavel Mayevsky said that Gazprom’s demands are completely unfounded, and the Poles are “ready to prove it before the Arbitration Court.”

Gazprom Export confirmed that it had applied to international arbitration to revise the price of the contract in relation to the retrospective revision of the price terms of the gas purchase and sale contract with the Polish company PGNiG JSC dated 1996, writes “RIA Novosti».

January 10 Gazprom cut gas supplies to Europe via Ukraine by 55% during January 1-9. Compared to the previous 10 days of December 2021, the volume of average daily supplies fell to 54 million cubic meters. m. Experts linked the decline in supplies with warming in Europe. Because of this, European consumers had the opportunity to drastically reduce the rise of gas from storage facilities, and in the period from December 30 to January 2, injection exceeded withdrawal. But by now the level of European fuel reserves has fallen below 54%.

On January 9, Izvestia reported that the new year had presented Europe with a gift in the context of the gas crisis: due to abnormally warm weather, gas prices fell. Futures for this energy source at the beginning of the year tested $800 per 1,000 cubic meters. m and fixed at the level of $1000 in the first week of January. Experts recalled that winter is not over yet and prices are still at a fairly high level. However, with the launch of Nord Stream 2, quotes may return to the levels of the first half of 2021, experts said.

On December 29, the head of the Ministry of Energy Alexander Novak said that Russia is ready to increase gas supplies to Europe, but this requires the signing of long-term contracts. He said that the country has a resource base that allows it to meet the demand of European consumers for fuel in any volume.