PGNiG asks Gazprom to reduce price under Yamal contract

MOSCOW, Nov 2 (PRIME) -- Polish state-controlled energy company PGNiG has asked Russian gas giant Gazprom to reduce the price of natural gas under the Yamal contract, the company said in a statement on November 1.

“has called for a review of the price conditions for gas supplies implemented under a long-term contract with Gazprom. PGNiG … has sent a request to Gazprom and Gazprom Export to reduce the price for the gas delivered under a natural gas supply agreement with the Republic of Poland signed on September 25, 1996,  a so-called Yamal contract,” the company said.

Under the contract, each side has the right to revise prices once in three years if it thinks that the price does not meet the market situation, the company said.

The agreement encompasses sales of 10 billion cubic meters of gas per year until 2022, and Poland has to take off at least 8.7 billion cubic meters.

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