Gazprom to reimburse Poland’s PGNiG $1.5 billion

Russian gas giant Gazprom will reimburse Poland’s PGNiG $1.5 billion by July 1 to compensate for years of overcharging. On March 30, the Polish company won its case against Gazprom over its long-term contract for gas imports. It calculated that it had overpayed by $1.5bn, if the proper formula for calculating the cost of deliveries was applied beginning in 2014. According to a statement by PGNiG statement, Gazprom signed an agreement confirming the new formula and to the reimbursement scheme as well. Earlier in November, Poland declared it would not extend its contract dating back to 1996 with Gazprom beyond 2022.