Gazprom wins partial gas price war, but Orlen could owe up to $290 million

Orlen, a Polish oil and gas firm, could be hit with a bill for almost $300 million after deciding that Gazprom has the right to charge higher prices retroactively on gas supplied to Poland.

Orlen is a brand of Orlen.

Take over

The Polish gas monopoly PGNiG, which will be in 2022 and is involved in several disputes with Gazprom at an arbitration tribunal in Stockholm regarding the prices Poland paid for Russian Gas from 2017 to 2020.

Gazprom has been involved in numerous legal disputes with European companies. According to calculations, the total claims from these companies is at least 20 billion euros (17 billion dollars).

Orlen estimated that the arbitration ruling on July 1, 2018 could cost the company $290 million.

Orlen stated that the ruling left it to the companies to decide the terms of settlement and that Gazprom was not compensated. It is up to them to come to an agreement.

The company stated that "Orlen is in compliance with the law, and adheres to all applicable sanctions. This prevents it from paying any money under the judgment."

The tribunal will then rule on the claims of both parties regarding prices for 2021 and 2022 as well as the claims that resulted from Gazprom ceasing to supply Poland in 2022. ($1 = 0.8477 euros) (Reporting by Marek Strzelecki)

(source: Reuters)