Poland gets Russian gas price reduction

WARSAW, Poland (AP) ? Officials say Poland has obtained a significant price reduction on gas imports from Russia.

The head of Poland's PGNiG gas an oil monopoly, Grazyna Piotrowska-Oliwa, says prices were reduced by more than 10 percent, effective immediately. That brings Poland's costs in line with other major gas-importing European countries.

According to business reports, PGNiG has been paying Russian supplier Gazprom some $500 per 1,000 cubic meters of gas, while the average price in Europe is $350. Poland imports about 70 percent of its gas from Russia.

Piotrowska-Oliwa says gas price for households will be reduced as of Jan. 1, but declined to say by how much.

As a result of the deal, she says Tuesday that Poland is withdrawing a complaint against Gazprom it had lodged with the Stockholm Arbitration Tribunal.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-11-06-Poland-Russia-Gas/id-2f4b820eacaa4514a02ac6bc0c84a877

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