Poland-based Europol Gaz shall pay a fine of about USD1.57bn if it pursues a USD6bn polish zloty lawsuit with Russia-based Gazprom in Sweden.
In 2022, Poland terminated its agreement with Russia to get gas for Russia through the Yamal Pipeline after Warsaw cancelled a demand to pay for fuel in Russian Roubles while Moscow responded by cutting off supplies.
Eversince, the company is asking for compensation for the lost revenue and for a lack of transmission of gas through Poland from 2023 till 2045.
Poland-based Orlen has acquired the Yamal pipeline’s Polish section in October 2023. This means that Gazprom shall no longer get a stake in Europol Gaz that owns the Yamal pipeline’s Polish section. Earlier both Gazprom and Orlen had 48% stakes in Europol Gaz.
The Arbitration Court of St Petersburg and Leningrad was banning Europol Gaz from continuing its Stockholm proceedings and shall impose a fine of USD285mn and USD1.28bn to be converted into Russian Roubles, if it fails to comply.
Dollar fine was related to the transportation of gas via Poland in 2006 till 2009 and the zloty fine was for incurred losses as per Interfax new agency.
