The companies signed a Supplement to the Yamal contract, approved a new formula for calculating gas prices. Now the Polish party expects that “Gazprom” till July, 1st will repay the overpayment to PGNiG in the amount of $1.5 billion.

the Polish company Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) and Gazprom signed Annex to the agreement for the supply of natural gas dated September 25, 1996 (the Yamal contract). This is with reference to PGNiG reports Forsal.

In addition to the agreement approved a new formula for calculating the price at which the cost of gas will be calculated from November 1, 2014 as earlier decided by the Stockholm arbitration.

“As a result, the company expects that Gazprom will repay the overpayment PGNiG of approximately $1.5 billion prior to July 1”, — reported in the Polish company.

In PGNiG noted that the Annex to the agreement was signed on 5 June in electronic form. Thereafter, the parties exchanged original signed documents.

RBC sent a request to “Gazprom” and “Gazprom export”.

the gas supply Contract, signed in 1996, planned till 2022 with renewal option. The agreement provides for deliveries to Poland to 10 billion cubic meters of gas per year. Last year, the Polish side announced that at the end of 2022 terminates contract. In Warsaw say they have found a way to abandon Russian gas by buying liquefied natural gas (LNG), which comes into the country from Qatar and the United States and regasified on the LNG terminal in świnoujście, and through the Baltic Pipe, which would connect Poland with the Norwegian shelf through Denmark.

March 30 this year, the Stockholm arbitration court recognised that the gas price in the Yamal contract inflated and does not match the state of the market. In accordance with the decision of the court PGNiG will pay to Gazprom for the fuel formula, “which is directly linked to gas prices on the West European market”. At the end of may “Gazprom” and “Gazprom export”, filed in the district court, Svea (Sweden) appeal the decision of the arbitration Tribunal. Chapter press service of “Gazprom” Sergei Kupriyanov informed RBC that in 2018 the company also appealed the interim decision in this proceeding.