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Naftogaz claims its win in arbitration against Russian Gazprom

Source : 112 Ukraine

The arbitration completely rejected demands of Gazprom regarding the paragraph "take or pay" for $56 billion in 2012-2017
14:36, 22 December 2017

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Naftogaz of Ukraine claims that it has won arbitration against Russian Gazprom under a contract for the gas supply on all disputable issues, Interfax-Ukraine reports.

In particular, it is reported that Stockholm Arbitration reduced the price of Russian gas for Naftogaz in the second quarter of 2014 by almost 27.4% - from $ 485 to $ 352 per 1,000 cubic meters. It was noted that due to the revision of the contract price, Naftogaz saved $1.8 billion in gas purchased in 2014-2015.

In addition, Naftogaz reported that the Arbitration completely rejected demands of Gazprom regarding the paragraph "take or pay" for $ 56 billion in 2012-2017.

Related: Naftogaz denies that member of board of Ukrtransgaz owns offshores

As it was reported earlier Gazprom demands Naftogaz to pay for the supply of Russian gas to the occupied territories of Donbas. The amount of claims is 1.3 billion dollars.

Ukraine has not been buying gas from Russia for a long time. At the same time, blue fuel to the occupied Donbas comes from the Russian Federation.  

Related: Cabinet approves new composition of Naftogaz Supervisory Board

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