Gas owned by Naftogaz arrested in Slovakia

Source : 112 Ukraine

Ugas enforces Naftogaz through foreign courts to pay back its debt of $21 million
12:37, 22 December 2017
112 Agency

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Enforcing the judgement made by the Stockholm arbitrage in a lawsuit filed by Ugas, a Slovakian court decided to put gas supplies imported from Slovakia by Naftogaz under arrest on 20 December 2017.

The Stockholm arbitrage made its final decision in regards to the lawsuit filed by the Italian company Ugas on 19 December 2017, although the case concerns a contract from 2007. The plaintiff filed a lawsuit against Naftogaz to the Stockholm arbitrage. The total amount of the lawsuit today, including all the fines and penalties, constitutes around $21 million.

“At the same time a source in Naftogaz has said that the company is now trying to clarify the situation in Slovakia and is trying to figure out who is legally representing the plaintiff, as the initial owner of the gas – Italia Gas – is currently in the middle of bankruptcy proceedings. Naftogaz is analyzing the situation in order to figure out appropriate actions.

Related: Gazprom demands Naftogaz to pay $ 1.3 billion for Russian gas supply to occupied Donbas

The Italian company has been trying to implement the judgement of the Stockholm arbitrage from 2012 in Ukraine, but has been unsuccessful. After that, according to international law, it turned to courts of other countries in order to implement the decision of the Stockholm arbitrage. The ruling of the Stockholm arbitrage is then presented to be implemented by courts of other countries and is implemented according to those countries’ laws and procedures.

Naftogaz is currently importing gas through Slovakia and Poland, as well as from Hungary. Slovakia is the biggest source of gas imports in 2017 with over 8 billion cubic meters.

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