WARSAW (Pakistan Point News / Sputnik - 15th June, 2020) Poland and Russia are normalizing their relations in gas supplies, having settled a price issue, the central European country's state energy company PGNiG said on Monday.
Earlier in the day, PGNiG said that it had signed an addendum to the gas contract with Gazprom and expects the Russian state company to reimburse the overpayment of $1.5 billion by July 1.
"We can say that our relations with Gazprom in the European market are normalizing," PGNIG chief executive Jerzy Kwiecinski said at a press conference.
According to Kwiecinski, the two companies have "switched to normal calculations based on a new price formula."
"Gas goes to Poland from the east without any problems," the chief executive added, noting that Russian supplies accounted for 62 percent of Poland's gas imports.
Kwiecinski stated that the signing of the addendum indicates that "we can talk and shape our relations, based on European standards."
In late March, PGNIG said it had won the case against Gazprom in an international arbitration court in Sweden and is entitled to $1.5 billion because the court had changed the formula for gas price specified in a 1996 contract with the Russian energy giant. According to PGNIG, the court's decision is applicable to all gas deliveries conducted between November 1, 2014, and February 29, 2020.
In late May, Gazprom contested the arbitration tribunal's ruling. Still, the Polish company said the new complaint will not affect the verdict, as the companies have to use the new formula for calculating the gas price.
