WORLD> Europe
Gazprom reaches gas deal with PGNiG
(Xinhua)
Updated: 2009-10-31 05:05

MOSCOW: Russia's state gas monopoly Gazprom and its Polish counterpart PGNiG have agreed on a deal to increase gas supplies to Poland, the companies said on Friday.

"The parties have agreed to increase gas supplies to Poland and to extend the current contract until 2037," they said in a joint statement.

The companies said they had also settled disputes over their joint venture EuRoPol Gaz's gas transit fees and management.

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The agreements will take effect after the two governments sign relevant documents.

Gazprom's deputy chief executive Alexander Medvedev said on Monday the Russian gas giant might boost gas deliveries to 11 billion cubic meters from the current 8 billion cubic meters annually from 2010.

Poland consumes some 14 billion cubic meters of natural gas per year, of which itself produces some 30 percent. Russian gas accounts for 92 percent of the Central European country's gas imports.