Gazprom wants to recover $935 million from Polish Orlen through a Russian court – Kommersant
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The Arbitration Court of St. Petersburg and the Leningrad Region accepted for proceedings lawsuit Gazprom (MOEX: GAZP) to the Polish oil concern Orlen SA. The Russian company intends to recover $710 million and 886 million Polish zlotys ($224.5 million).
Other defendants are the owner of the Polish section of the Yamal-Europe gas pipeline Europol Gaz SA, as well as the British Ernst and Young Global Limited and the Polish Ernst and Young sp. z oo Corporate Finance Sp. k. The court scheduled a preliminary hearing for April 10.
In 2022, Poland introduced sanctions against Gazprom to freeze the exercise of rights to shares and the payment of dividends to Europol Gaz. Russia imposed retaliatory sanctions, which prohibited Gazprom from using the pipeline to transport Russian gas through Poland. In the fall of 2023, Polish authorities handed over a section of the gas pipeline under the management of Orlen. It was alleged that Europol Gaz, which controls the gas pipeline, would buy out the 48% stake owned by Gazprom.
In May 2023, Europol Gaz filed a claim in arbitration against Gazprom Export for $1.5 billion. The claims related to lost profits from the cessation of gas transportation through the Yamal-Europe gas pipeline. In October, the Arbitration Court of St. Petersburg and the Leningrad Region upheld the claim of a Gazprom subsidiary, which demanded that the Polish company terminate proceedings at the Arbitration Institute of the Stockholm Chamber of Commerce. Russian court promised Polish company fined $1.5 billion for violating the ban.
Read more about the proceedings in the Kommersant article. “Gazprom is seeking protection from Europol Gaz in the Russian Federation”.
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