Under the judgement, the Tribunal established a new pricing template for the natural gas supply contract concluded between PGNiG and the Russian Gazprom. The ruling concludes the dispute which has been ongoing since 2014 and the arbitration proceedings initiated at the request of PGNiG S.A. in 2016.

“I wish to express my appreciation to the current Management Board of the company, led by the President Jerzy Kwieciński and for the Management Board President Piotr Grzegorz Woźniak for their persistence and their deep-rooted conviction regarding the necessity of these actions. Their perseverance and consistency led to this success” - stressed Minister Kurtyka.

The new formula applies retroactively since November 1st of 2014. PGNiG estimates, that the Russian partner will be obliged to return approximately 1,5 bn dollars to the Polish company.

“The company faces many challenges related to the diversification of natural gas supplies to Poland. In 2022 the current contract for gas supplies from Russia will be terminated, and the key components of the diversifying structure, such as the Baltic Pipe, will be commissioned. The yesterday’s ruling opens new possibilities for future activities of PGNiG S.A. in that respect” - indicated the Minister of Climate.

“That is why I am pleased to hear the declaration of President Kwieciński, who stated that the company’s priority will be to continue the policy of gaining complete independence from gas supplies based on the Yamal Contract and to purchase new supplies of natural gas. It seems that Poland’s independence with regards to gas security is at hand”- said the Minister of Climate.

In the opinion of Minister Kurtyka, the ruling is going to allow the company to become the champion of Polish energy transformation, in which the natural gas is going to play an important role.

“I see potential, for instance with regards to heating or transport and hydrogen technology. We are facing completely new challenges related to the dynamically shifting energy environment on the one hand and the necessity to effectively respond to the challenges posed by the COVID-19 epidemic on the other. I believe that PGNiG S.A. is going to play an important role as the leader of changes in this new reality. Today we already see the company's great commitment and the ability to immediately respond to a crisis” - stressed Michał Kurtyka, the Minister of Climate.

“That is why I wish to express my gratitude to the President Kwieciński and all the energy companies for their actions and solidarity in the face of the pandemic” - the Minister added.