In 2020, PGNiG won a dispute with Gazprom in arbitration. It was about changes in gas prices in the Yamal contract of November 2014. Although the Russian company filed a complaint with the Appeal Court of Stockholmit, however, found it unfounded. The last resort for the Russians was the appeal to Swedish The Supreme Court.
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Gazprom did not take advantage of the opportunity
Gazprom did not file a cassation appeal against the judgment of the Court of Appeal in Stockholm dismissing the appeal to set aside the final judgment of the Arbitration Tribunal of March 30, 2020. The judgment of the Court of Appeal of March 9, 2022 is final, informs PGNiG in a press release.
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Thus, the legal battle in this matter ended. In the announcement, the company resembles the entire course of the event. In November 2014, there were changes to pricelist gas supply. As no agreement could be reached, in May 2015 PGNiG requested arbitration, and in February 2016 – it filed a suit.
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The Court agreed with the comments of the Polish company and in March 2020 issued a ruling changing the formula for determining the purchase-sale price of gas in the Yamal contract. Gazprom did not like this, which in June 2020 filed a complaint to set aside the judgment. In March 2022, the Court of Appeal found it unfounded.
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PGNiG received huge amounts of money
As a result of the ruling of the Arbitration Tribunal coming into force PGNiG has received 1.5 billion dollars from Gazprom. As the company informs, these funds were allocated to activities “strengthening Poland’s energy security”. They served mainly the purpose of diversifying the sources and directions of gas supplies.
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