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Gazprom brings legal action against Polish PGNiG over EuRoPol GAZ management

The Polish company considers Gazprom’s requirements "completely unfounded"

WARSAW, February 2. /TASS/. Russia’s Gazprom has brought legal action against PGNiG (Polskie Gornictwo Naftowe i Gazownictwo) over management of the joint venture EuRoPol GAZ (the operator of the Polish section of the Yamal-Europe gas pipeline), Poland’s oil and gas company said in a statement on Wednesday.

"PGNiG company has been summoned to the arbitration court by Gazprom regarding the dividend payment from the profit of EuRoPol GAZ SA and the violation of rights in accordance with corporte governance, which belong to Gazprom and the board members of EurRoPol GAZ appointed by Gazprom," the statement said.

PGNiG considers Gazprom’s requirements "completely unfounded."

"PGNiG exercises the rights and duties of 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," the company said.

"PGNiG will take legal steps to prove that Gazprom’s claims are unreasonable," the statement added.

PGNiG directly or indirectly owns through its subsidiary Gas-Trading SA 51.18% in the equity capital of EurRoPol GAZ, while Gazprom holds 48.82% of shares.

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