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Russia-Poland gas deal set for September

24th August 2010
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In the second half of next month Poland will extend its existing gas contract with Russian state-owned gas monopolist Gazprom by 15 years, reported Dziennik Gazeta Prawna on Tuesday, citing unnamed sources.

Poland will also increase the amount of fuel it can purchase under the agreement, the daily said.

The deal was initially due to be signed earlier this year, but Brussels blocked it, saying it was inconsistent with European Union rules.

The European Commission requires that the operator of the Yamal-Europe pipeline remains independent of those companies who use its infrastructure and also that it guarantees equal access to the gas. To this end, the current Polish-Russian operator of the Polish section of the pipeline, EuRoPol Gaz (which is co-owned by Polish gas monopolist PGNiG, Gazprom and Polish Gas-Trading) will be replaced by an independent Polish Treasury-owned company, Gaz System.

The agreement now awaits the green light from the EC, which DGP says Poland should receive within the next two weeks when Gaz System resumes operation of the infrastructure.

“It seems that the issues concerning EU law are close to being clarified,” Mikołaj Budzanowski, deputy minister of the Treasury, told DGP.

Poland currently uses around 14 billion cubic meters of gas every year, which is mainly sourced from Gazprom along the Yamal-Europe pipeline.
 


From Warsaw Business Journal by Gareth Price


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