Ukraine's Naftogaz collects $18 million with Gazprom, - Naftogaz commercial director

Source : 112 Ukraine

Gazprom's debt to Naftogaz was $100 million for failing to comply with arbitration's decision
12:34, 24 October 2018

112 Agency

Naftogaz-Ukraine collected $18 million with Russia’s Gazprom within two months in a row, as Yuriy Vitrenko, the commercial director at Naftogaz, wrote on his Facebook page.

“By the way, in addition to $2,1 billion which we have already collected with Gazprom according to the decision of the arbitration in the form of gas, we have also collected $18 million of money from Gazprom,” Vitrenko said.

Related: Naftogaz to transfer 90 percent of its income to public budget

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.

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: Naftogaz starts supplying gas to Kyyivteploenerho

Although, after the decision of the Stockholm arbitrations, against its sake, Gazprom stated on the initiation of contracts termination on the gas supply to Ukrainian Naftogaz. After that, all assets of Russia's energy monopolist Gazprom, located in Ukraine, were moved to this country's state budget.

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