Poland’s oil and gas company PGNiG submitted a response to Gazprom’s notice of arbitration in which it requested dismissal of the Russian company’s claims, while also submitting a counterclaim for a decrease of the contract price.
Earlier in January, Gazprom had submitted a notice of arbitration before the ad hoc Arbitral Tribunal in Stockholm demanding a revision of the price terms applicable to the gas delivered under the Yamal contract. Gazprom expected an increase in the contract price retroactively from 2017 and from 2020.
“Following a thorough analysis of the case we confirm our position that the contract price revision request presented in Gazprom’s notice is unfounded and without merit,” said Paweł Majewski, President of the Management Board of PGNiG. “Moreover, we believe that those claims are formally inadmissible. Thus, our response to the notice of arbitration is clear – we requested to dismiss Gazprom’s claims.”
The above-mentioned price revision requests of Gazprom followed a request by PGNiG for a decrease of the contract price of 1 November 2017 and another request for a decrease of the contract price of 1 November 2020 which was modified by PGNiG on 28 October 2021 in view of record-high gas prices in Europe.