Polish PGNiG asks Gazprom to reduce gas prices

–29.10.2021

The Polish gas monopoly PGNiG sent an application to Gazprom to revise pricing under the so-called Yamal contract. It was concluded in 1996 for a period up to December 31, 2022, and provides for pumping an average of 10 billion m3 of gas per year.

Kapitonov also added that due to the rise in prices, there is simply no large difference in today's quotes (whether it is a Day-Ahead, Month-Ahead or Quarter-Ahead spot price) at different European hubs. The last year's dispute between Gazprom and PGNiG ended in a good compromise for both parties, said Marat Samarsky, Advocate of International Economic Compliance at ART DE LEX.

According to the advocate, Gazprom, having lost the arbitration, won an image victory, showing that it does not blackmail Europe energy but works within the legal framework. ‘It is likely that this time Gazprom may go for another revision of the long-term contract, competently giving Warsaw the opportunity to tone down its rhetoric and stop actively opposing the initiatives related to Nord Stream 2,’ the expert suggests.

This time the case will not reach the trial, since Poland in its current situation will not be ready to clash with Gazprom.