November 8, 2011
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Polish PGNiG to fight Gazprom in Stockholm arbitration.

Polish PGNiG to fight  Gazprom in Stockholm arbitration.

Warsaw. November 7. (REUTERS) Polish gas monopoly PGNiG said  it filed a procedure in the Stockholm arbitration court against Russian giant Gazprom to cut gas import prices under their long-term supply deal.

PGNiG signalled last month it would turn to the court if it failed to reach an agreement on prices with the Russian company by the end of October.

"Actions towards cutting gas prices in long-term contracts have been undertaken also by other leading European companies," PGNiG also said in a statement on Monday.
"PGNiG is counting on reaching an agreement, which would allow for gas purchases at prices in line with conditions that are shaping the European gas market," it added.

Earlier this year, the Polish state-controlled gas monopoly said it was seeking at least a 10-percent discount to current prices it pays and that the discount, if awarded, would be implemented retroactively from April.

Poland insists on gas discounts from Gazprom, as it managed to secure imports through German operators at a lesser price.

Copyright 2011. Reuters. All rights reserved. 


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