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Court of Arbitration Gazprom Jerzy Kwieciński PGNiG Poland News

Gazprom pays USD 1.5 billion to Polish state gas company

Gazprom returns surcharge for gas purchased by Poland

editor: REMIX NEWS
author: Wprost Biznes

Jerzy Kwieciński, CEO of the Polish Oil Mining and Gas Extraction Company (PGNiG), has confirmed that Gazprom has fulfilled its legal obligation to transfer USD 1.5 billion to the Polish company.

The funds are the result of a verdict by the Court of Arbitration in Stockholm from March 30, 2020. According to the ruling of the Court, between 2014 and 2020 the Russian partner had inflated prices of gas in the Yamal Contract by over USD 1.5 billion. As part of the verdict, the Russian company was obligated to return the surcharge for the gas purchased by Poland.

“With great pleasure, I can report that I have just received confirmation that money from Gazprom is in the PGNiG account,” Kwieciński wrote.

The information was also confirmed by Krzysztof Szczerski, the Chief of the President’s Cabinet. He emphasized that this was a great diplomatic and judicial victory for Poland over the Russian company.