Yamal Contract.

In the nine months to September 30th 2020, the PGNiG Group’s EBITDA and EBIT came in at nearly PLN 10.7bn and more than PLN 8.24bn, respectively. Despite low prices of oil and gas and the global economic downturn caused by the coronavirus pandemic, the PGNiG Group once again delivered robust financial performance and strong operating […]

In response to PGNiG’s application for a decrease in gas price in so-called Yamal contract with Gazprom, Russians want an increase. According to PGNiG it is not justified.

Writing responses to articles on „dumb Polacks” who don’t want cheap gas from Russia has become rather tedious. Despite that, these rebuttals need to be reiterated, especially when this kind of propaganda is published by a prestigious paper, such as the Financial Times – writes Wojciech Jakóbik, editor in chief at BiznesAlert.pl.

The Management Board of PGNiG announced that on November 15, 2019, after obtaining the required corporate approvals, it submitted to PAO Gazprom and OOO Gazprom Export a declaration of will to terminate the contract for the purchase and sale of natural gas to the Republic of Poland of September 25, 1996.

– Yes, we’ll get rid of it. This is a good term. The terms of the contract with Gazprom are extremely unfavorable to us – said PGNiG President Piotr Woźniak a few moments after signing the annex increasing LNG supplies from the USA to Poland.

PGNiG will announce the future of the Yamal contract this year. Why should it not be prolonged? – writes Wojciech Jakóbik, editor-in-chief of BiznesAlert.pl.

Arbitration Court in Stockholm informed that Gazprom challenged its partial award from 30 June, in which it agreed with PGNiG that the Company has contractual grounds to request a change in prices charged by Gazprom for natural gas supplied to Poland under the Yamal Contract.