Poland intends to seize “Nord Stream-2” assets

Poland is working on options to seize assets of the Russian gas pipeline “Nord Stream-2” in order to slow down its construction. This was stated by Deputy Minister of State Affairs of Poland Janusz Kowalski in a conversation with Wprost.

Kowalski believes that Warsaw should be firm in the context of the recovery of six billion PLN (about $ 1.5 billion) from Gazprom, which is due to Poland under the Yamal contract. According to him, there are “legal instruments” for the recovery of these funds. Gazprom has previously noted that the decision of the Stockholm Arbitration is still under study, while the amount of future payments was called premature.

Poland claims that the arbitration obliged a Russian company to pay $1.5 billion. In Stockholm, the claims of PGNiG to change the price formula within the existing contract and its relation to gas quotations on the European market were recognized as fair. This refers to deliveries that took place from January 1, 2014.

The Yamal contract, signed in 1996, envisages supplies of up to 10 billion cubic meters of Russian gas per year to Poland. The contract is valid until 2022. In 2012 the gas price for Poland under this contract was reduced by 10%. In 2015 PGNiG filed a lawsuit with the Stockholm Arbitration Tribunal for another decrease in the price, explaining that the price does not correspond to the market one.