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Cabinet approves signing of amicable agreement with Gazprom

Source : 112 Ukraine

Naftogaz Ukraine received $ 2.917 billion compensation from PJSC Gazprom for the execution of 2018 Stockholm arbitration decision
19:28, 28 December 2019
 
The Cabinet of Ministers approved the draft agreement in case on Gazprom's claim against the state of Ukraine. The relevant government order dated December 27, 2019 No. 1372-r was published on the Government Portal.
 
“To approve the draft amicable agreement on the lawsuit of the public joint-stock company Gazprom against the state of Ukraine, which is considered by the ad hoc arbitration court in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), TCP case No. 2019-10,” the document says.

Also, the Cabinet of Ministers authorized the Minister of Justice Denys Maliyska to sign the Settlement.
 
Related: Russian Energy Minister believes Nord Stream 2 to be put into operation before end of 2020


Naftogaz Ukraine received $ 2.917 billion compensation from PJSC Gazprom for the execution of 2018 Stockholm arbitration decision. Thus, based on the transit arbitration results, Naftogaz received $ 5 billion from Gazprom.
 
Today’s Gazprom payment includes the repayment of both the previously unpaid portion of the decided  compensation ($ 2.56 billion) and the interest accrued from the date the decision was announced on February 28, 2018.

"Naftogaz welcomes the recognition by the Russian side of the need to comply with arbitration decisions 2017-2018 and its intention to continue transporting gas to the EU through Ukraine," the statement said.

The parties continue negotiations on the terms of further cooperation after the completion of the current contract on January 1, 2020.
 
 
 
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