Gazprom Export seeks arbitration versus PGNiG on deal selling price

The Gazprom corporation symbol can be found at the St. Petersburg Worldwide Financial Forum (SPIEF) in St. Petersburg, Russia, June 2, 2021. REUTERS / Evgenia Novozhenina / file Photo

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MOSCOW, Jan 14 (Reuters) – Russia’s Gazprom Export explained Friday it was in search of worldwide arbitration versus PGNiG above a agreement price evaluation, a request from the Polish condition-owned fuel monopoly it would battle in court.

The dispute can take area in opposition to the backdrop of a broader standoff among Russia and the West and as Moscow awaits clearance from Germany and the European Union for its Nord Stream 2 pipeline to start out fuel exports.

Poland, which has taken measures to minimize its dependence on Russian gas materials, has been a single of the most vocal opponents of Nord Stream 2, which she believes would increase Moscow’s energy leverage against Europe.

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Gazprom Export reported in a statement that it experienced submitted a ask for for a retroactive critique of the pricing conditions of a 1996 deal with PGNiG.

Gazprom Export mentioned it sent a request to PGNiG to critique the gasoline selling price under the contract starting up in November 2017, just before creating a further ask for a few years later, the corporation said.

“Since the industrial negotiations on the price tag evaluation in line with the earlier mentioned requests did not direct to agreements, we have referred the dispute to arbitration, in entire compliance with the contractual phrases,” ​​Gazprom Export reported.

Pawel Majewski, chairman of PGNiG’s board of directors, explained in a assertion that Gazprom Export’s request to raise the contract price is “unfounded”.

“We are all set to confirm it prior to the arbitral tribunal,” he said.

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Reportage by Vladimir Soldatkin Created by Gabrielle Tétrault-Farber Modifying by Sandra Maler

Our Standards: Thomson Reuters Trust Ideas.

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