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Naftogaz files transit tariff revision lawsuit to Arbitration Court

Earlier, in March of 2018 Naftogaz submitted a request for revision of the tariff to Gazprom and initiated talks in compliance with the contract
20:00, 6 July 2018

ubr.ua

Today, on July 6 Naftogaz-Ukraine filed a lawsuit to the Arbitration Court of Stockholm Chamber of Commerce with a demand to review the transit tariff under the contract with Russian Gazprom, as Naftogaz’s statement says.

“The transit contract between Naftogaz and Gazprom allows the parties to request a revision of the tariff in case of significant changes in the European gas market and if the tariff does not correspond to the level of tariffs in Europe. In the Award rendered by a Stockholm tribunal on 28 February 2018, Naftogaz's claim for tariff revision was rejected for procedural reasons, and Naftogaz's substantive right to a revision of the tariff was therefore not decided in that Award,” the message says.

Related: Kyiv Administration sues Naftogaz

It was also noted that in March of 2018 Naftogaz submitted a request for revision of the tariff to Gazprom and initiated talks in compliance with the contract.

“The reasons for the request are significant changes in the European gas market, in particular the rules for setting transit tariffs, after the contract was concluded in January 2009, and the fact that the tariff level does not correspond to the European level. Gazprom has not been constructive in the negotiations, compelling Naftogaz to refer the matter to arbitration as provided for in the contract. Naftogaz requests a revision of the tariff with effect from March 2013, and has preliminarily estimated the monetary value of the claim at USD 11.58 billion, excluding interest,” the statement says.

Related: Swedish court suspends decision in Gazprom-Naftogaz dispute, Ukrainian side protests

As it was reported on June 8, Russian state-run gas company Gazprom addressed the Swiss court, complaining about the seizing of its assets in the Netherlands. The company plans to submit another appeal to the Dutch court.

The Russian side also insists it still has not got any official notifications about the beginning of the asset freeze due to the execution of the Stockholm arbitrary court's decision

Related: Nord Stream 2 will destroy competition on European gas market, - Naftogaz

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