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Poland’s PGNiG seeks arbitration over Gazprom gas overpayments -Breaking


© Reuters. FILE PHOTO : A view of the PGNiG Termika Zeran Heat Power Station is taken across the Vistula river, Warsaw, Poland on August 19, 2015. REUTERS/Kacper Pempel

WARSAW, (Reuters) –The Polish Gas Monopoly PGNiG called for Arbitration to Russian Gazprom’s (MCX:), regarding the interest due on its overpayments for 2014-2020. This was stated in a Quarterly Report on Thursday.

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 paid $1.5 billion in overpayments to PGNiG following the court’s ruling.

“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.”