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Exclusive-Poland’s Orlen warned three gas companies it could seize Gazprom payments – sources

Exclusive-Poland’s Orlen warned three gas companies it could seize Gazprom payments – sources
Exclusive-Poland’s Orlen warned three gas companies it could seize Gazprom payments – sources

Poland’s largest energy company, Orlen, has warned gas companies in Hungary, Slovakia and Austria that it could seize their payments for imports from Russia’s Gazprom.

The warnings, contained in letters sent more than a month ago, are linked to claims for compensation for losses suffered by Poland after Russian supplies were cut in 2022, two sources familiar with the letters told Reuters.

Poland was left out for not paying in rubles when Western countries imposed sanctions on Russia following its invasion of Ukraine.

The warning prompted Budapest to issue a decree in May, a source said, effectively preventing the seizure of state energy conglomerate MVM CEEnergy’s payments to Gazprom, arguing it would put the country’s energy supply at risk.

The European gas market has faced uncertainty over supplies from Russia, after Austria’s OMV warned last month of a suspension of supplies from Russia’s Gazprom following a foreign court ruling, without identifying the case.

Orlen did not immediately respond to a request for comment. OMV declined to comment on the matter.

Slovakia’s SPP, which buys gas from Gazprom, said on Wednesday that a recent legal change protects it from any potential seizure of its Russian gas imports or related claims.

Last year, Poland’s Europol Gaz filed a $1.45 billion compensation claim against Russia’s Gazprom for back payments and lost revenue from gas transmission services after 2022. Orlen is the sole owner of Europol Gaz, which manages the Polish section of the Yamal gas pipeline connecting Russia and Europe.

In 2022, Poland terminated its agreement with Russia to receive Russian gas via the Yamal pipeline. Previously, Warsaw rejected requests to pay for fuel in rubles and Moscow responded by cutting supplies.

The development shows a further rift within the European Union over the disruption of Russian energy supplies, which has led to tariff disputes and a decline in industrial productivity.

Details of the Polish ruling were not available and the court was unable to immediately provide details.

Orlen is claiming more than $350 million from MVM CEEnergy as security for what it is owed by Gazprom, a source said, citing a Warsaw court ruling.

MVM CEEnergy did not respond to requests for comment.

Earlier this month, German utility Uniper won a multibillion-euro arbitration in Stockholm against Gazprom, allowing it to tear up dormant gas supply contracts and potentially setting a precedent for similar cases.

Europol Gaz’s claim for compensation against Gazprom was submitted to the same arbitral tribunal.

 
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