Gulf Oil and Gas accountACCOUNT

PGNiG Files Request for Price Reduction under Yamal Contract

Source: www.gulfoilandgas.com 11/2/2020, Location: Asia

Polskie Górnictwo Naftowe i Gazownictwo has filed a request for the renegotiation of price terms of natural gas supplies under a long-term contract with Gazprom.

Exercising its contractual right, PGNiG has filed a request to PAO Gazprom and OOO Gazprom Export for a downward revision of the price of gas supplied to Poland under the gas supply contract of September 25th 1996 (the Yamal contract).

The Yamal contract provides that every three years either party to the contract may ask for renegotiation of the price terms of supplies if it determines that they fail to reflect current market conditions.

The long-term contract between PGNiG and Gazprom provides for the supply of approximately 10 bcm of gas annually. Under the take-or-pay clause contained in the contract, PGNiG is obliged to offtake a minimum of 8.7 bcm of contracted gas annually. The Yamal contract expires in 2022.

Natural Gas News in Russia >>

United States >>  1/15/2021 - Following a detailed analysis of the climate positions of the American Petroleum Institute (API), Total announces its decision not to renew its member...
Malaysia >>  1/7/2021 - PETRONAS through its subsidiary, PETRONAS Carigali Sdn Bhd (PCSB), announced that it has taken over the operatorship of the E11 gas hub, located 130km...

Argentina >>  1/6/2021 - Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide a commercial update regarding the Company's gas sales from...
Russia >>  1/1/2021 - Gazprom began supplying gas to Serbia, as well as to Bosnia and Herzegovina, via a new route across Turkey and Bulgaria. ...

Moldavia >>  12/31/2020 - Gazprom and Moldovagaz signed the documents to extend the existing contracts for Russian gas supplies to and gas transit across the Republic of Moldov...
China >>  12/30/2020 - It is understood that from November 1 to December 26, CNOOC has supplied approximately 11 billion cubic meters of natural gas resources to the market,...




Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.