Bloomberg: PGNiG Wants Gazprom to Cut Gas Prices More Than in 2012
Polskie Gornictwo Naftowe i Gazownictwo SA, Poland’s dominant gas company, will seek steeper gas cuts than agreed two years ago when it starts talks with OAO Gazprom on gas price cut in November,
“Our aspirations are higher because the price differential between Poland and other European countries is significant,” Chief Executive Officer Mariusz Zawisza told reporters in Krynica, southern Poland, late yesterday.
PGNiG, as the former Polish gas monopoly is known, agreed with Gazprom in 2012 to cut the price of the fuel in its long-term supply contract by about 15 percent, which allowed the Polish company to save about 3 billion zloty ($940 million) a year, Treasury Minister Mikolaj Budzanowski said after the deal was signed. PGNiG buys about two-thirds of its gas, or 10 billion cubic meters, from Russia.