A Russian court has banned Europol Gaz from continuing arbitration with Gazprom in Stockholm
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The Arbitration Court of St. Petersburg and the Leningrad Region, on the claim of Gazprom Export LLC, prohibited the Polish Europol Gaz from continuing the proceedings at the Arbitration Institute of the Stockholm Chamber of Commerce, reported Interfax with reference to the court file.
Europol Gaz is a former joint venture of Gazprom (it was 48%) with the Polish state-owned company PGNiG, which owns the Polish section of the Yamal-Europe gas pipeline. This gas pipeline was used to transport Russian gas through Belarus and Poland to Germany and was one of the three main pipeline routes for gas supplies from Russia to Europe.
In May 2023, it was reported that Europol Gaz filed a claim against Gazprom Export in arbitration at the Stockholm Chamber of Commerce, demanding compensation of about $1.5 billion. The claims relate to lost profits from the cessation of gas transportation via the Yamal-Europe gas pipeline until 2045 in the amount of 5.357 billion zlotys ($1.2 billion), as well as debt for gas transportation in the amount of 848 million zlotys (about $200 million).
Since the end of 2021, Gazprom has sharply reduced the volume of supplies through the Yamal-Europe gas pipeline, after the Polish side, as part of the implementation of European legislation, switched from long-term transit contracts to auctions for booking pipe capacity.
In 2022, Gazprom completely stopped supplies through the pipeline due to the Polish side’s refusal to pay for gas in rubles. Last May, Moscow banned Gazprom from any interaction with Europol Gaz. Since then, gas has been supplied through the pipeline only in reverse mode, that is, from Germany to Poland. In September 2022, Poland imposed sanctions on Gazprom, thus freezing its rights to shares in Europol Gaz and receiving dividends, then in November external management of Gazprom’s share was introduced.
More details in the material “Gazprom is seeking protection from Europol Gaz in the Russian Federation”.
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