Gazprom wants to renegotiate prices with PGNiG

WSE-listed, state-owned gas giant PGNiG received a formal request from Russian giant Gazprom to renegotiate contract price of natural gas delivered through the Yamal pipeline. “Gazprom's renegotiation request is not justified and it does not satisfy the formal requirements specified in the Yamal Contract and, consequently, it is ineffective,” PGNiG said. Polish company filed a similar motion back in November. According to the terms of the Yamal contract, both sides can renegotiate the prices within the 3 years after the last correction has been made. PGNiG filed such motion three years ago, which was denied by Gazprom. PGNiG sued the decision, but no verdict has been made yet. PGNiG has 6 months to respond to the motion.