As INTERFAX.RU reports, Gazprom appealed the interim arbitration ruling on the dispute with PGNiG in Swedish court, the Polish company reported.

Reportedly, in June, the Stockholm Arbitration Tribunal delivered a partial judgment on the claim of Polish PGNiG on revising the price of gas supplies under the contract dated 1996.

The Polish company stated that the arbiters accepted the right of the Polish importer PGNiG to demand price decrease in the contract for Russian gas supplies through Yamal-Europe gas pipeline. That is why PGNiG expects for the contract price up to the level of market prices at later stage of the arbitration proceeding.

Gazprom Export LLC confirmed that on June 29, it received the interim decision of the arbitration tribunal against the gas supply contract of PGNiG.

“The arbitration tribunal agreed on the arguments pf Gazprom Export LLC and denied PGNiG in changing the price according to the demand, stated by this company during the proceeding. The right of any of parties to demand the gas price revision in case of significant changes on the market was initially stipulated by the contract. The tribunal confirmed that PGNiG has such right, but it does not agree with offered method of price adjustment and price formula. In addition, the tribunal agreed on PGNiG’s arguments that the only relevant factor for pricing in long-term gas supply contracts – these are the prices on hubs”, the Russian side claims.

This contract was signed in 1996, it provided for supplying about 10 bln cubic meters of gas per year, the minimum annual contractual number – 8.7 bln cubic meters per year. The contract is valid until 2022.

In 2014, PGNiG demanded the revision of the contractual price. Not having achieved consensus in negotiation process, in May 2015, it transferred dispute for considering in the Stockholm Arbitration Court.