RELEASE

Gazprom and PGNiG settle cooperation issues in gas sector

October 30, 2009, 14:45

Gazprom and PGNiG have settled the Russian-Polish cooperation issues in the gas sector. The parties agreed to increase the volumes of Russian gas supply to Poland and to extend the existing supply contract until 2037. In addition, they resolved the issues relevant to EuRoPol GAZ management and its tariff policy when transmitting Russian hydrocarbons.

The agreements reached were fixed in the Joint Statement of the Parties to come into effect after Russia and Poland sign the relevant documents on the intergovernmental level.

Background

Poland’s annual natural gas consumption is about 13.7 billion cubic meters with around 30 per cent produced domestically.

In 2008 Gazprom export supplied Poland with 7.9 billion cubic meters of Russian gas.

Natural gas is exported to and transited via Poland under the long-term intergovernmental contracts with PGNiG and EuRoPol GAZ on the basis of the Intergovernmental Agreement of 1993 as amended.

PGNiG is Poland’s largest petroleum company dealing with oil and gas field development, energy resources production, storage and transportation, oil and gas transmission network construction and expansion, as well as natural gas exports and imports.

The EuRoPol GAZ Transit Gas Pipeline System was incorporated in September 1993. The company owns the 684-kilometer-long Polish section of the Yamal – Europe gas pipeline and five compressor stations, jointly providing for the gas pipeline capacity of some 30 billion cubic meters per annum.

Gazprom and PGNiG are the key shareholders of EuRoPol GAZ.

 

All news for October 2009