PGNIG, the largest Polish gas distribution company, announced that it has signed an additional agreement to the contract for gas transit through the Yamal-Europe gas pipeline with Russian Gazprom.

The parties particularly confirmed the application of the price formula for gas supplied  in accordance with the decision of the international arbitration of March 30, Reuters reported.

At the end of March, PGNiG announced that the arbitration in Stockholm had ruled that the Russian gas company was obliged to pay it about $ 1.5 billion in a gas price dispute, as well as to change the price formula to reflect quotations on the natural gas market.

The parties agreed on July 1 as the deadline for Gazprom to pay $ 1.5 billion, PGNiG reported.