Decision of Stockholm tribunal allows Naftogaz to demand gas price reduction, — Poroshenko

Source : 112 Ukraine

Thus, the gas price will not be defined by Moscow
22:44, 31 May 2017

Press service of Ukrainian President

The judgment of Stockholm Arbitration gives Naftogaz the right to request for gas price reduction in terms of contract with Gazprom on market conditions. This was reported by Ukrainian President on Facebook.

"Tribunal’s decision allows Naftogaz to demand gas price reduction in the contract with Gazprom according to market conditions. Thus, the gas price will not be determined by Moscow, but exceptionally by transparent and free market. This is an important step on the way to energy security. Moscow loses the possibility to use gas as a weapon of political pressure and blackmail for the first time," he wrote.

He also added that take-or-pay option was imposed on Ukraine by Russian authorities and caused Ukrainian people to lose billions of dollars.

Poroshenko also assured that Ukraine will remain reliable transit country. 

"I confirm that Ukraine was and still will be a reliable partner in terms of providing European consumers with gas," president wrote.

Beyond that, Foreign Minister Klimkin also welcomed today’s decision.

"A clear-cut victory today for Ukraine and European Rules over Russia’s ‘Energy Aggression’ and Gazprom’s monopoly. This victory has just been acknowledged by the Stockholm Arbitration Institute. Shady deals will no longer be acceptable!" Klimkin wrote on his Twitter page.

As it was reported, Stockholm tribunal satisfied Naftogaz claim on price revision taking into account market conditions.

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