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Main page > Comments > Fuel & Energy > Poland demands discount from Gazprom
Poland demands discount from Gazprom
According to the Polish press, PGNiG is again negotiating with Gazprom with the aim to reduce prices of Russian gas. Poland demands revision of a pricing formula of gas supplies to link it to spot prices. Otherwise, PGNiG threatens to appeal to an international arbitration court. Poland enjoys support of the EU, and it also has a possibility to join the general trend of demanding concessions from suppliers on long-term contracts, something Turkey has recently done. The experience of Italy’s Edison that was not frightened to spoil its relations with Gazprom and went to court, shows that such methods may work in certain cases to achieve concessions from the Russian gas giant. By the way, E.On has decided to risk following Edison’s example.
On the other side, PGNiG is interested in keeping stable partnership with Gazprom due to the lack of alternative sources of gas. The LNG regasification terminal in Swinoustje is not built yet. Besides, amid growing political instability in the Middle East nobody can guarantee availability of large amounts of liquefied natural gas in the next five to ten years. Prospects of shale gas production in Europe in general and Poland in particular are doubtful in the next decade due to ecological concerns. Poland has to mind such restrictions during the negotiations.
By Stanislav Mitrakhovich, NESF leading expert
Special report:
Nord Stream 2 and Ukraine: Costs Should Decide
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The boom in shale gas production in the US and its wide-ranging influence on markets rocked the gas world. Liquefied gas deliveries were redirected, altering the already fragile balance of demand and supply in traditional markets for pipeline gas in Europe.Liquefied Natural Gas Outlook: Expectations and Reality
World market has shown interest to liquefied gas. Russia has so far been aside of it. However, producers have announced several large LNG projects. The new study will help investigate this delicate subject and understand what is in store for LNG production and export in the nearest years.Analytical series “The Fuel and Energy Complex of Russia”:
State regulation of the oil and gas sector in 2023, 2024 outlook
The year 2023 posed a serious challenge to the Russian oil and gas sector that was subjected to extremely tough sanctions that could have led to collapse in exports of crude oil and petroleum products. The oil industry and corresponding regulatory mechanisms were tested throughout the year. The state, being in dire need of financial resources, had to save the chicken that lays golden eggs. How well is it coping with this task?Gazprom in the period of expulsion from the European market. Possible evolution of the Russian gas market amid impediments to exports
The year 2023 saw an even larger drop in Russian exports of pipeline gas to Europe. In the past two years, Gazprom failed to export some 120 bcm of natural gas, and these quantities are now locked up in Russia. Another difficult case concerns extension of the current gas transit contract with Ukraine, which expires at the end of 2024. Gazprom is already looking for new opportunities.New Logistics of Russian Oil Business
When the G7 and the EU as of 5 December 2022 imposed an embargo on oil from Russia and the price cap mechanism that was later complemented with the same measures against petroleum products, Western analysts confidently predicted inevitable collapse in Russian exports by at least one-third. The new report explains in detail how the mechanism of Russian oil transport and sales works and whether Western companies remain in this business.Russia’s New Energy Strategy: on Paper and in Fact
The Energy Strategy to 2050 was originally supposed to be approved before 15 September 2022, yet it was never adopted even as of November 2023. Moreover, not even a draft of the ES 2050 has been published yet. On the one hand, this vividly demonstrates the attitude to strategic documents on energy. It turns out that the industry on the whole copes with the unprecedented pressure of sanctions even without official strategies. On the other hand, Russian oil and gas has been facing really serious challenges that cannot be taken lightly. And immediate problems are a reflection of long-term threats too.Outlook for Russian LNG Industry
European sanctions and Brussels’ policy of abandoning Russian energy resources plus the destroyed Baltic gas pipelines have shut in Russia a respectable volume of pipeline gas that cannot promptly be sent to alternative markets. This would seem a strong argument in favour of developing LNG production in Russia. The new NESF report must give the answer to the question about what part of the plans for dramatic increase in LNG production in Russia can be considered realistic.All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07
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