Gazprom sues PGNiG over dividend from shared gas pipe
Russia's Gazprom has sued Poland's PGNiG over the payment of dividends from the operation of the Polish section of the Yamal-Europe that they co-own, PGNiG said on February 4.
The two companies own the 684-km section of pipeline through their EuRoPol GAZ joint venture. PGNiG has a 41.2% interest, while Gazprom has 48.8%.
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Gazprom has initiated arbitration proceedings against PGNiG over the dividends and "the alleged violation of rights under the corporate governance rules of Gazprom and board members of EuroRoPol GAZ appointed by Gazprom," PGNiG said.
The Polish firm said it saw the claims as "unfounded."
"PGNiG exercises the rights and duties as a EuRoPol GAZ shareholder in accordance with the provisions of applicable law, and decisions on distribution of net profits for this financial year are taken by the general meeting of EuRoPol GAZ," it said.
"PGNiG will take legal steps to prove that Gazprom's claims are unreasonable," it added.
Westbound gas flow via Yamal-Europe has been low in recent months, as Gazprom has slashed overall supplies to Europe and diverted as much supply as it can to Nord Stream 1 and TurkStream. The pipeline has at times been operating in reverse, delivering gas to Poland from Germany.
Gazprom and PGNiG are already entangled in multiple legal disputes over gas pricing and the former's business practices in Europe. Gazprom filed an arbitration claim against PGNiG in mid-January, seeking a retroactive increase in the gas price in their supply contract.
PGNiG also failed earlier this week to overturn in court a deal between the EU and Gazprom that allowed the Russian supplier to settle a long-standing antitrust case without paying a fine. But it also won a case that will require the European Commission to reconsider Gazprom's alleged anti-competitive behaviour in the Polish market.