PGNiG says Gazprom did not slash gas prices

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By Mirza Duran Poland’s dominant gas firm PGNiG claims that Russian giant Gazprom has not reduced gas prices despite a court ruling last month.

The arbitration tribunal in Stockholm ruled in March that Gazprom must pay PGNiG about $1.5 billion in a pricing dispute case.

The court also ruled that a gas pricing formula in PGNiG’s Yamal long-term contract with Gazprom should be changed to take into account natural gas market quotations.

“Gazprom is not honouring the award issued following the long arbitration process, continuing to issue invoices based on the invalid pricing formula”, PGNiG said in a statement on Friday.

PGNiG added it would consider

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