UPDATE: Gazprom: Stockholm court cancels PGNiG claim on gas price - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Gazprom: Stockholm court cancels PGNiG claim on gas price

(Rewrites, adds details in headline, paragraphs 1Ц3)

MOSCOW, Jul 2 (PRIME) -- The Stockholm Arbitration Court has agreed with the arguments of Russian gas giant Gazprom and turned down a claim by PolandТs PGNiG for a change of gas prices, Gazprom Export said in a statement on Monday.

УGazprom Export received a preliminary decision by the arbitration tribunal on June 29 concerning a gas supply contract to company PGNiG. The arbitration tribunal agreed with the arguments of Gazprom Export and has fully cancelled PGNiGТs claim to change the price in accordance with the requirement set by this company during the litigation,Ф Gazprom Export said.

The court will make a final decision after consultations with the firms, Gazprom Export said.

Earlier on Monday, the court recognized the right of PGNiG to demand a lower price for gas bought from Gazprom.

УThe Tribunal granted PGNiGТs key arguments indicating the need of reduction of the contract price and rejected GazpromТs arguments in support of maintaining the current, non-market pricing terms under the Yamal Contract,Ф the statement quoted President of the Management Board Piotr Wozniak.

The Yamal Contract, valid until 2022, provides for the supply of approximately 10 billion cubic meters of gas annually. According to the take-or-pay commitment imposed by Gazprom, PGNiG has to collect at least 8.7 billion cubic meters of the contracted fuel per year.

End

02.07.2018 16:07
 
 
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