UPDATE: Gazprom challenges Stockholm court ruling on gas price reduction

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WARSAW/MOSCOW, Jun 2 (PRIME) -- Russian gas giant Gazprom has challenged a ruling of the Stockholm arbitration court on gas price reduction, Polish national hydrocarbon company PGNiG said in a statement on Tuesday.

“On June 2, (PGNiG) has received information that (Gazprom) filed to the appellation court a request to challenge the arbitrage court decision dated March 30, 2020,” PGNiG said.

A spokesperson for Gazprom said that Gazprom and Gazprom Export challenged the arbitrage court’s ruling in the court of Sweden’s Svea region on May 29.

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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