Ukraine did not receive $20 billion in gas transit since 2009, - Naftogaz

Source : 112 Ukraine

Ukrainian Naftogaz intends to prove in arbitration the underpayment due to the understated cost of transit
08:08, 6 March 2018

The national joint-stock company Naftogaz of Ukraine believes that the tariff for gas transit through Ukraine is understated in a contract with the Russian company Gazprom. This was stated by the commercial director of Naftogaz of Ukraine Yuriy Vitrenko on air of ICTV channel.

Vitrenko added that Naftogaz had lost about $ 20 billion for inadequate transit in 2009-2017. Naftogaz intends to prove in arbitration the underpayment of funds due to the understated cost of transit through the territory of Ukraine.

"The cost of transit through Ukraine is underestimated by a factor of 2. We will try to prove it now Since 2009 to the present, we have lost about 20 billion dollars," he said.

Related: Naftogaz to shut down office in Russia

As we reported earlier, after the ruling of the Stockholm Arbitration, Russia's Gazprom announced its intention to terminate gas contracts with Naftogaz Ukraine.

The Arbitration Institute of the Stockholm Chamber of Commerce has granted the lawsuit of Naftogaz as to compensation for the volumes of transit gas that had not been delivered by Gazprom on February 28. 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. $526 000 of interest per day will be added to the debt from March 1.

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