Russia and Poland agree on gas supplies.

By bne IntelliNews November 1, 2010
Russian and Polish governments agreed on the terms of supply and transit of natural gas. Gazprom gas supplies to Poland will increase from current 7.5bn m3 to 9.7bn m3 this year, and to 11bn m3 annually until 2022. This would increased Gazprom's share in Polish energy balance from current 60%-65% to about 80%, given country's current natural gas consumption of 14bn m3 annually. Notably, it was reported previously that Polish side demanded a 10% discount in exchange for gas supply volume growth, but the agreement keeps the old supplies tariffs, which remains undisclosed. The sides also agreed on managing gas transit through pipeline Yamal-Europe, which will be carried out by a joint-venture EuRoPolGaz. No details on transit tariff formula were provided, other than the net profit of EuRoPolGaz is being targeted at USD 7mn annually.

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