Orlen may face nearly $300m bill after arbitration tribunal favoured Gazprom

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for Russian gas from 2017 to 2022.The tribunal's ruling on 1 July adjusted the gas prices under the contract between PGNiG, now part of Orlen, and Gazprom for the years 2018 and onwards, potentially leading to a cost of $290m for Orlen.However, the terms of settlement have not been specified, and no compensation has yet been awarded to Gazprom.Orlen has stated that it operates within legal boundaries and adheres to sanctions that currently prohibit any payments under the judgment.The tribunal is expected to make further rulings on disputes over prices for the years 2021 and 2022.Additionally, it will address claims related to Gazprom's cessation of gas supplies to Poland in 2022.These ongoing legal battles are part of Gazprom's wider confrontations, with claims from European companies totalling at least €17bn ($20.05bn), as per Reuters' calculations.In a separate development, Orlen has signed its fourth contract with Ukraine's Naftogaz this year to supply 140 million cubic metres (mcm) of natural gas, sourced from the US.The gas will be regasified at the LNG terminal in Świnoujście, Poland, before being transported to Ukraine.The previous three contracts included a combined volume of approximately 300mcm of natural gas.The latest contract is a continuation of the commercial cooperation framework signed by Naftogaz and Orlen in March 2025, which focuses on the supply of natural gas LNG.Orlen management board vice-president Robert Soszyński said: "Thanks to our continually developed trading expertise, proprietary fleet of LNG transport vessels and reserved regasification capacities, we are well positioned to support Ukraine in diversifying both the sources and supply routes for natural gas.“The summer period, which is crucial for replenishing storage facilities, adds to the importance of these deliveries. Our activities align with the European Union’s REPowerEU objectives and even surpass them. Orlen not only ceased all Russian gas imports over three years ago, but today we are also in a position to assist neighbouring countries such as Slovakia and Ukraine on their path toward energy independence from Russia.”Earlier this week, Orlen announced the cessation of Russian oil purchases for its refineries, effectively ending its reliance on Russian energy resources.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,279.35 +51.93 (+0.83%)Dow 3044,828.53 +344.11 (+0.77%)Nasdaq20,601.10 +207.97 (+1.02%)Russell 20002,249.04 +22.66 (+1.02%)VIX17.48 +1.10 (+6.72%)Gold3,346.50 +3.60 (+0.11%)PortfolioSign in to access your portfolioSign inTop gainersBMNR Bitmine Immersion Technologies, Inc. 135.00 +76.50 (+130.77%)RUN Sunrun Inc. 10.50 +1.51 (+16.80%)TRIP Tripadvisor, Inc. 17.50 +2.51 (+16.74%)DDOG Datadog, Inc. 155.15 +20.14 (+14.92%)SYM Symbotic Inc. 47.91 +5.71 (+13.53%)Top losersLEN Lennar Corporation 110.12 -4.69 (-4.09%)LEN-B Lennar Corporation 105.62 -4.37 (-3.97%)ESGRP Enstar Group Limited 19.45 -0.79 (-3.91%)HOOD Robinhood Markets, Inc. 94.40 -3.58 (-3.65%)BG Bunge Global SA 78.44 -2.95 (-3.62%)Most activeLCID Lucid Group, Inc. 2.1600 +0.1100 (+5.37%)NVDA NVIDIA Corporation 159.34 +2.09 (+1.33%)INTC Intel Corporation 22.49 +0.61 (+2.79%)F Ford Motor Company 11.81 +0.04 (+0.34%)TSLA Tesla, Inc. 315.35 -0.30 (-0.10%)Earnings eventsTrending tickersBTC-USD Bitcoin USD 107,753.06 -2,196.42 (-2.00%)NDM.TO Northern Dynasty Minerals Ltd. 2.4000 +0.4800 (+25.00%)HR-UN.TO H&R Real Estate Investment Trust 12.46 +1.83 (+17.22%)TD.TO The Toronto-Dominion Bank 101.69 +0.10 (+0.10%)^GSPTSE S&P/TSX Composite index 27,036.16 +1.90 (+0.01%)Top economic events