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English Section

Poland’s PGNiG says Russia's Gazprom owes it USD 1.5 bn after court ruling

30.03.2020 23:54
Polish state-run oil and gas company PGNiG has said that Russia’s Gazprom will have to pay it back some USD 1.5 billion following a ruling by an international arbitration court.
Image by Magnascan from Pixabay
Image by Magnascan from Pixabay Pixabay License

The decision by a court in Stockholm came in a case over a pricing dispute that had been ongoing since November 2014.

PGNiG CEO Jerzy Kwieciński said on Monday that his company would try to recover the money as soon as possible.

"The court agreed with us—the prices we were paying for Russian gas were too high and not market prices," he added.

Kwieciński said the ruling meant that PGNiG would have more money for investment and development.

He added that PGNiG would continue efforts to diversify Poland’s gas supplies and wean the country off Russian sources.

(pk/gs)

Source: IAR