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Gazprom appeals against Stockholm arbitray court's decision on gas supply

Gazprom sent a notice to Naftogaz-Ukraine, which states that the bilateral contracts for supply and transit of gas are now being broken
17:03, 6 March 2018

Open source

Russia's state-run energy enterprise Gazprom filed an appeal against the decision of Stockholm arbitrary court. Aleksandr Medvedev, the deputy head of directors board of the Russian company said that as quoted by Interfax news agency.

'Gazprom sent a notice to Naftogaz-Ukraine, which states that the bilateral contracts for supply and transit of gas are now being broken,' he said.

In turn, the Ukrainian enterprise says that the appeal may be filed when considering any procedure-related issues, not the actual decision of the court. 

Related: Energy and Coal Industry Ministry announces end of gas crisis in Ukraine

'The arbitrary's decision at this time remains effective. Gazprom still owes Naftogaz 2.56 billion dollars,' the Ukrainian company's press service reported.

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.

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: Russia extracted 7.2 billion cubic meters of gas in occupied Crimea

Had Naftogaz lost, it would have equaled the debt of $5,460 for each Ukraine family, the press service of the company counted. However, with this win, it would mean an additional $185 for each family. They also achieved a $0,5 billion reduction in the Gazprom’s gas price for 2018.

Related: Ukraine did not receive $20 billion in gas transit since 2009, - Naftogaz

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