Stockholm arbitrary court looks into Naftogaz-Gazprom gas dispute

18:07, 9 October 2017

Stockholm arbitrary court started to look into the gas dispute between Naftogaz and Gazprom, the Ukraine and Russia’s leading energy enterprises. According to Yuriy Vitrenko, the Chief commercial officer of the Ukrainian enterprise, the first hearing took place on Monday afternoon.

‘Since Naftogaz and Gazprom failed to agree on the implementation of a separate decision of the court of arbitration in June this year, now the court must consider the parties‘ positions and to take appropriate decisions,’ he wrote on Facebook.

According to Vitrenko, earlier, under its separate decision, the tribunal fully and finally rejected Gazprom’s claims for payment of Naftogaz amounts charged by Gazprom in accordance with the contract clause ‘take or pay’

The court also recognized the right of Naftogaz on the revision of the contract price and the company’s right to receive from ‘Gazprom’ compensation for the overpayment.