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Amsterdam arrests shares of Gazprom in Blue Stream

Source : 112 Ukraine

As of now, Gazprom tries to challenge acts of Naftogaz on the recognition and enforcement of the court decision
21:30, 29 August 2018

hyser.com.ua

Amsterdam District Court ordered to arrest the shares of the Blue Stream Pipeline Company B.V. that belong to Gazprom on the suit of Naftogaz. Interfax reports this with a reference to the report of Gazprom.

‘Currently, Gazprom PJSC disputes the actions of Naftogaz in the courts of Switzerland, Netherlands and Great Britain on recognition and enforcement of an arbitral award from February 28, 2018, including the interim measures,’ reads the report.

 

Related: Gazprom experiencing difficulties borrowing abroad due to assets frozen in Naftogaz lawsuit – media

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-Ukraine forced to engage in retail as regional gas companies are not reporting full gas reception – CEO

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.

Related: Naftogaz CEO claims continuous threats

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