Gazprom Export sends money to PGNiG under court ruling

MOSCOW, Jun 30 (PRIME) -- Gazprom Export, part of Russian gas giant Gazprom, has sent money under the court ruling on revision of gas prices for Poland to the country’s national energy company PGNiG, but will continue to contest the ruling, Gazprom Export said in a statement on Tuesday.

“Today, Gazprom Export has transferred money that were to be returned according to a ruling of the arbitration tribunal on revision of gas prices from 2014 under a contract on gas sales to Poland,” the company said.

“At the same time, Gazprom and Gazprom Export will continue to challenge the arbitration tribunal’s decision in line with established procedures,” it added.

In March, PGNiG said it had won a gas price case against Gazprom to obtain the right to a U.S. $1.5 billion refund.

According to PGNiG, the court decision covers gas deliveries starting from January 1, 2014, when the company filed a price revision suit. The court ruled to change the pricing formula because of the link with the European natural gas market quotations.

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