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Poland Threatens To Seize Gazprom's Foreign Assets

Poland Threatens To Seize Gazprom's Foreign Assets

Poland aims to seek from Gazprom the enforcement of the decision of the Stockholm arbitration on the dispute over gas prices and is ready, for example, to request the seizure of assets related to the Nord Stream-2 project, Deputy Minister of state assets Janusz Kowalski told Wprost.

He cited the example of "Naftogaz of Ukraine," which, seeking payment of the awarded compensation of $3 billion, began to "effectively" pursue the assets of "Gazprom" throughout Europe.

"Now we are faced with the question of how to get compensation of 6 billion zlotys ($1.5 billion), which the Polish side, represented by PGNiG, was awarded by the Stockholm arbitration as compensation for overpayment for gas. In my opinion, the best solution will be strict requirements for the implementation of this decision. PGNiG is moving in this direction," the official said.

Kowalsky supposes that PGNiG should get a writ of execution and achieve its recognition in those countries where it was applied by Naftogaz.

PGNiG in 2015 launched arbitration proceedings against Gazprom and Gazprom export, seeking a review of the price of gas supplied to Poland under the contract of September 25, 1996, on the Yamal-Europe gas pipeline from November 2014. According to the applicant, the prices were inflated. The Stockholm arbitration with PGNiG agreed and awarded it $1.5 billion in compensation.

On April 23, PGNiG declared that Gazprom had issued gas invoices to it on the old terms, that is, without taking into account the court's decision.

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