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A view shows the Gazprom logo installed on the roof of building in Saint Petersburg, Russia February 5, 2024.  Anton Vaganov/File photo
A view shows the Gazprom logo installed on the roof of building in Saint Petersburg, Russia February 5, 2024. Anton Vaganov/File photo
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Russia's Gazprom seeks over $900 million in damages from Polish companies

March 7th, 2024 | 09:09 AM BUSINESS Energy 2

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By Reuters

Russian energy giant Gazprom (GAZP.MM) has lodged a claim of more than $900 million against Polish companies in a St Petersburg court, the court's documents showed on Thursday.

The reasons for the compensation claims were not disclosed. However, Gazprom has been involved in lawsuits recently with other central European energy companies as both sides trade claims of lost revenue or payments.

In 2022 Poland terminated its agreement with Russia to receive Russian gas via the Yamal gas pipeline after Warsaw rejected a demand to pay for the fuel in roubles and Moscow responded by cutting off supplies.

The St Petersburg and Leningrad Region Arbitration Court documents showed on Thursday that Gazprom seeks compensation of $710 million and 886.4 million zlotys ($224.70 million) from Europol GAZ SA, Orlen SA, Ernst and Young Global Ltd, and "Earnst and Young sp z oo Corporate Finance Sp. k".

The preliminary hearings are scheduled for April 10. The defendants did not immediately respond to requests for comment.

Europol Gaz has in turn been demanding compensation in the courts from Gazprom for lost revenue and for a lack of gas transmission through Polish territory from 2023 to 2045.

Polish state controlled refiner Orlen (PKN.WA) took over the Polish section of the Yamal pipeline in October. That meant Gazprom would no longer have a stake in Europol Gaz, which owns the Polish part of the Yamal pipeline. Previously Orlen and Gazprom both had 48% stakes in Europol Gaz.

The St Petersburg and Leningrad Region Arbitration Court ruled in November that Europol Gaz will have to pay a fine of around $1.57 billion fine if it continues to pursue a 6 billion zloty lawsuit against Gazprom in Sweden.

A Russian court said on Wednesday that Czech firm Net4Gas (N4G) would have to pay a fine of around 112.96 million euros ($122.7 million) unless it drops a lawsuit against Gazprom over missed payments, TASS news agency reported.

($1 = 3.9449 zlotys)

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