Naftogaz receives $2,9 billion from Gazprom by decision of Stockholm arbitration

Source : 112 Ukraine

In total, Ukraine's company received $ 5 billion in transit arbitration
17:58, 28 December 2019
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.

Related: In December, Naftogaz-Ukraine contributed almost $ 830 mln to Ukraine's state budget, - company's Board Director

Gazprom's payment of three billion dollars in compensation to Naftogaz adjudged by Stockholm Arbitrage within gas agreement between Ukraine and Russia is "a drop in the sea" compared to other possible claims against Russia. The statement was made by Deputy Prime Minister of Russian Federation Dmitry Kozak in an interview with Russia 24.

"Neither Ukraine nor us can predict who is the winner here ... The 2,9 billion dollars that we will pay to enforce a judgment that has already come into force is a drop in the sea compared to those potential claims against Russia," Kozak said.

Deputy PM also stated that the amount of these claims against Russia could be much higher.

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