PGNiG signs annex to deal with Gazprom, to get $1.5 bln refund

WARSAW, Jun 15 (PRIME) -- Poland's oil and gas company PGNiG has signed an additional agreement to a gas contract with Gazprom and expects that Russia will return U.S. $1.5 billion of overpayment in July, the Polish company said in a statement on Monday.

"The PGNiG board notifies of signing an addition to a September 1996 natural gas sales contract for the Republic of Poland between PGNiG and Gazprom, Gazprom Export," the company said.

In the document, the companies confirmed the application of a pricing formula ordered by the Stockholm arbitration court. The rule shall be applied retrocpectively, since November 1, 2014.

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