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Naftogaz wins lawsuit against Gazprom

Source : 112 Ukraine

As a result of two arbitrations in Stockholm, Gazprom is to pay Naftogaz $2,56 billion
21:52, 28 February 2018

Open source

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 boosts gas withdrawal from underground storage to two-year maximum – Ukrtransgaz

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