Fox: Polish PGNiG Denies Receiving Price Cut Offer From Gazprom

Poland's natural gas monopoly PGNiG SA said Tuesday it hadn't received any proposals from Russia's OAO Gazprom to lower prices in exchange for a larger volume of purchases, denying reports in the Polish media.

Saturday, Polish daily Rzeczpospolita, citing a representative of investment fund IFD Kapital, reported that Gazprom had reach agreement with PGNiG, RWE AG, Shell Energy Europe, E.ON, GWH Gashandel, Centrex, EGL AG, GasTerra, and Dong Energy AS, on cutting prices between 7%-10% in exchange for those companies purchasing higher volumes.

"No PGNiG representatives have described as attractive the Gazprom proposal described by the media," PGNiG said.  MORE