WARSAW (Reuters). -The Polish gas monopoly PGNiG has called for arbitration with Gazprom (MCX) in regard to interest it paid for overpayments made between 2014 and 2020. The company stated this Thursday in a quarterly update.

Przemyslaw waclawski, chief financial officer, did not comment on the Gazprom claim that PGNiG received from Gazprom. He said however that it was “not small”.

A court of arbitration ruled that Gazprom pricing must be adjusted to account for natural gas market quotations in March 2020.

Gazprom has paid PGNiG $1.5 billion for the overpayment it made following the court decision.

“On March 31st 2022, PGNiG sent to Gazprom a call for arbitration concerning its claim for interest on amounts overpaid by PGNiG for natural gas supplied in the period November 2014 − February 2020,” the Polish company said.

Gazprom is still waiting for a response from PGNiG to their request for arbitration. This case remains pending.