WARSAW, Apr 11 (PRIME) -- Russian gas giant Gazprom did not appeal against a Stockholm court decision that awarded Polish oil and gas company PGNiG a U.S. $1.5 billion payment from the Russian company, PGNiG said in a statement on Monday.
“Gazprom did not file a cassation appeal against the decision of the Stockholm court of appeal that denied an appeal against the final decision of the arbitration court made on March 30, 2020,” PGNiG said, adding that the March 9 decision of the court of appeal came in force and the company received $1.5 billion from Gazprom.
According to PGNiG, a $1.5 billion court decision made in March 2020 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.
Gazprom and Gazprom Export challenged the arbitrage court’s ruling in the court of Sweden’s Svea region in May 2020, but it was turned down.
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