PGNiG says turns to arbitration court in Gazprom row
Release Date: 2011-11-07
WARSAW | Mon Nov 7, 2011 6:10am EST
Nov 7 (Reuters) - Polish gas monopoly PGNiG turned to arbitration court in Stockholm, seeking to cut gas prices under its long-term supply deal with Russia's giant Gazprom , PGNiG said in a statement on Monday.
Last month, PGNiG signalled it would file a case in the court if it failed to reach an agreement the Russian company by the end of October.
Earlier this year, the Polish state-controlled gas monopoly said it was seeking at least a 10-percent discount to current prices it pays and that the discount, if awarded, would be implemented retroactively from April.
Poland imports some two-thirds of its annual gas consumption of 14 billion cubic metres from Russia, and diversification of supplies has for long been high on Warsaw's agenda, with its focus lately turning to potential shale gas exploration. (Reporting by Pawel Bernat; writing by Adrian Krajewski)
| Type: | NORMAL |
| Url: | http://www.reuters.com/article/2011/11/07/pgnig-gazprom-idUSW8E7LD02E20111107 |