UPI en Español  |   UPI Asia  |   About UPI  |   My Account
Search:
Go

Poland, Gazprom settle gas price dispute

|
 
Published: Nov. 7, 2012 at 8:22 AM

WARSAW, Poland, Nov. 7 (UPI) -- Russian energy company Gazprom said it found "a mutually acceptable mechanism" on price for natural gas with its Polish partners.

Gazprom and Poland's state-controlled gas company PGNiG announced a change in their 1996 gas-price formula. The deal settles a dispute filed by PGNiG at an arbitration court in Sweden.

Gazprom Deputy Chairman Alexander Medvedev met with PGNiG President Grazyna Piotrowska-Oliwa in Warsaw to settle the matter.

"We have found a mutually acceptable mechanism of the Russian gas price adjustment," Medvedev said in a statement.

The price adjustment concerns gas supplies to Poland delivered through the Yamal-Europe natural gas pipeline. The Wall Street Journal reports Poland gets a 10 percent discount in natural gas prices while the Financial Times reports a 15 percent price cut.

Gazprom said the "basic principles" of the bilateral agreement are preserved, including long-term contracts, take-or-pay agreements and a gas price pegged to oil.

"This is a crucial step in the path of restoring competitiveness of PGNIG long-term gas contracts," Piotrowska-Oliwa said in a statement.

Topics: Alexander Medvedev
Recommended Stories
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
Join the conversation
Most Popular Collections
'Star Trek Into Darkness' screening NBC upfronts Met Ball 2013
'Great Gatsby' premieres in New York Spire raised on top of One WTC 2013: Celebrity break ups and divorces
Additional Energy Resources Stories
1 of 15
138th Preakness Stakes in Baltimore, Mayland
View Caption
Race fans enjoy a shot in the infield during the 138th Preakness Stakes at Pimlico Race Course on May 18, 2013 in Baltimore, Maryland. Kentucky Derby winner Orb is looking for a Triple Crown possibility with a win today at Pimlico. UPI/Kevin Dietsch
fark
Five tech stocks you should have bought instead of Facebook. AOL? Really?
Supercell with confirmed tornado bearing down on Wichita as severe weather outbreak begins in plains...
The Provo Tabernacle - it is risen
Angry child throws small stone into puddle
Won't share your bottle of soy sauce? That's a stabbin'
Mother to sue because her baby has a face that only a mother could love