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Gazprom appeals decision on arrest of assets, debts at Luxembourg court

Preliminary hearings on the case are planned for June 2019 but the particular date is not appointed
13:30, 30 May 2019

hyser.com.ua

Russia’s Gazprom appealed the decision on the arrest of any debt and asset of the company as Gazprom reported.

The preliminary hearings on the case are planned for June 2019 but the particular date is not appointed yet.

“May 24, 2019, Gazprom appealed the decision of Luxembourg court dated March 12, 2019, which has not come into force, on the recognition and enforcement of the arbitral decision on transit at the territory of Luxembourg to protect its rights and legal interests,” the message said.

Related: Gazprom will be forced to enter into transit agreement with Ukraine on its terms

There was a session at the Netherlands court on the lawsuits of Naftogaz Ukraine on the recognition and execution of the arbitral decision on the case of the transit. The lawsuit was filed by Naftogaz on September 17, 2018.

The Arbitration Institute of the Stockholm Chamber of Commerce has granted the lawsuit of Naftogaz as to compensation for the volumes of transit gas that had not been delivered by Gazprom on February 28. According to the decision of the court, Naftogaz got a $4,63 billion compensation for the transit gas that had been agreed on, but not delivered by Gazprom.

 As a result of two arbitrations in Stockholm, Gazprom is to pay Naftogaz $2,56 billion. The court dismissed the demands of Gazprom that stated that the money hadn’t been paid as it was considered the fines for what they called unlawfully seized by Naftogaz volumes of the transit gas.

Related: Ukraine's Naftogaz files complaint to European Commission against Gazprom

On January 22, 2016, Ukraine’s Anti-Monopoly Committee fined Russian energy company Gazprom for $3,4 billion. The reason is Russian company’s abuse of its position at the gas transit market, where Russia uses gas pipelines running through the Ukraine territory.

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