Appeal court rejects Gazprom's complaint against gas price ruling

Jakub Kamiński/PAP

The court of appeal in Stockholm has rejected a complaint by Gazprom, the Russian gas monopolist, against a 2018 verdict that cleared the way for a reduction in gas prices charged to PGNiG, its peer in Poland, the Polish company reported on Wednesday.

The arbitration court had ruled Gazprom used excessive prices in its contract with PGNiG.

In its complaint, Gazprom sought to undermine the 2018 Arbitration Court's partial ruling by questioning the court's jurisdiction and its power to change the contract price between Gazprom and PGNiG.

The Court of Appeal's ruling is final, PGNiG said.

The 2018 partial ruling was followed by the Arbitration Court's final verdict on March 30 this year which upheld PGNiG's claim. Two months later, PGNiG and Gazprom signed an annex to the Yamal contract, under which the Polish company received a USD 1.5 bln net return.