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Gazprom claims upholding its rights to protect interests amid another action against PGNiG

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

MOSCOW, February 2. /TASS/. Russia’s Gazprom has confirmed its request for conducting an arbitral proceeding against the Polish PGNiG S.A. and EuRoPol GAZ (a joint venture of Gazprom and PGNiG, which owns the Polish section of the Yamal-Europe gas pipeline), claiming that it is upholding its rights to protect its own interests.

"Gazprom confirms requesting an arbitral proceeding against PGNiG S.A. and EuRoPol GAZ S.A. and is upholding its rights to protect its interests," a representative of the holding’s information administration told TASS.

Earlier, Poland’s oil and gas company said that Gazprom had brought legal action against PGNiG over management of the joint venture EuRoPol GAZ. The claim concerns the dividend payment from the profit of EuRoPol GAZ and the violation of Gazprom’s rights in accordance with corporate governance.

PGNiG considers Gazprom’s requirements "completely unfounded."

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.

The transnational gas pipeline Yamal-Europe runs through the territory of four countries, among them Russia, Belarus, Poland, and Germany. Its designed capacity is 32.9 bln cubic meters of gas per year.