Poland and Russia have moved "significantly closer" to reaching a revised long-term agreement for natural gas deliveries to Poland, with final talks expected in early October, Poland's Economy Ministry said in a statement Friday.

The initial conclusions of the latest round of talks held in Moscow Thursday and Friday have been accepted by the European Commission, the statement said.

The negotiations began in early 2009 when a gas trader, 50%-owned by Russia's OAO Gazprom (GAZP.RS), lost access to its sources of gas amid a Russian-Ukrainian dispute and stopped delivering gas to Poland, causing a shortfall of 2.3 billion cubic meters a year.

Russia and Poland reached a preliminary deal in winter 2009-2010, agreeing to increase volumes and extend the agreement until 2037, but the deal hasn't been finalized. The European Commission in the meantime raised concerns the new agreement could violate the EU's laws, including on third-party access to pipeline infrastructure.

Polish gas firm PGNiG SA (PGN.WA) warned Monday it would soon use up the volumes of Russian gas available under the current contract and could be forced to cut natural gas deliveries to industrial clients in the fourth quarter without a new deal with higher volumes.
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