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The Warsaw Voice » Business » November 29, 2012
Business & Economy
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Natural Gas to Get Cheaper
November 29, 2012   
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In a welcome surprise for Polish consumers, the price of natural gas supplied to households will fall instead of rising from January. This is after the Polish oil and gas company PGNiG reached an agreement with Russian gas giant Gazprom over the terms of natural gas supplies to Poland. The two companies in early November signed an addendum to their contract for the supply of gas from Russia’s Yamal Peninsula.

PGNiG has not disclosed the new price of gas or the extent to which it could decrease. What is known, however, is that the new price will be based on the current market prices.

PGNiG CEO Grażyna Piotrowska-Oliwa (pictured) has said that the price of gas supplied to PGNiG by Gazprom will drop by more than 10 percent. As a result, the price of gas supplied to Polish households will not go up; instead it will be reduced as of Jan. 1 in consultation with the Energy Regulatory Office (URE), Piotrowska-Oliwa said.

The agreement puts an end to a dispute between the Polish and Russian companies before a court of arbitration. PGNiG says it will now withdraw its suit from the court, which was expected to decide whether or not the Russians resorted to unfair practices in gas trade. Poland paid more for gas delivered by Gazprom than most other European Union countries.

According to Poland’s Treasury Minister Mikołaj Budzanowski, the agreement does not mean that Poland will not decide to press for further reductions in the price of Russian gas supplied to Poland.

PGNiG took Gazprom to the Court of Arbitration over gas prices in early November last year. The objective was to change the terms of a long-term contract for gas supplies concluded in September 1996.
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