Poland seeks price reductions from Gazprom

If the talks fail to reach a satisfactory conclusion for the Polish side they may seek to take the matter to international and independent arbitration, reports the Polish Rzeczpospolita newspaper.

PGNiG want to return to a formula for calculating gas prices in force till November 2006.

Gazprom said earlier this year that prices were agreed in 2010 for a three year period and it will not address reductions unless there are major changes on the energy market.

PGNiG says that an agreement must be made before the end of October, however.

Poland hopes the recent discovery of shale gas deposits in its territory will help reduce its reliance on Russian gas. (pg)