The Arbitral Tribunal under the auspices of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) has delivered its separate judgement in Naftogaz-Gazprom case. This was reported by Naftogaz press service.
"The tribunal has rejected Gazprom’s “take-or-pay” claim and satisfied Naftogaz claim to make the contract price market-reflective. Furthermore, the tribunal has lifted the ban on gas re-export, which was part of the contract," the message reads.
Olena Zerkal, Deputy Minister of Foreign Affairs of Ukraine for the European Integration, also commented on the award on Facebook:
"Position appears to be: 1) “take-or-pay” condition (the lion's share of Gazprom’s claim was completely rejected; 2) restriction on re-export was annulled; 3) a revised pricing from 2014 — European price. This is a clear victory. European integration is in effect."
As it is known, Naftogaz is not buying gas from Russian monopolist since 2016.