The Stockholm arbitration between Naftogaz and Gazprom has ended, the parties are awaiting the judges’ decision
The Stockholm Arbitration Court completed hearings in the litigation between NJSC Naftogaz of Ukraine and PJSC Gazprom over a gas transit contract.
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This was reported on Facebook by Naftogaz Commercial Director Yuriy Vitrenko.
“The hearings at the Stockholm Arbitration Court are over. For two weeks the tribunal heard legal advisers, witnesses and experts,” he wrote.
However, the Ukrainian official predicts an even longer confrontation with the Russian gas supplier.
“Now the opposite side will disrupt the process in Stockholm. Different ways. The main target, of course, will be Naftogaz. But there will also be attempts to revise the cost of transit through the decisions of the regulator. There will even be attempts through the EU to achieve an exception for Gazprom regarding the application of European standards to transit through Ukraine - until the end of the current contract... This is not an exhaustive list of threats. But we must survive,” writes Vitrenko.
He also stated that if they win, the Ukrainians expect to receive $12 billion in compensation from Gazprom for “lost revenues for 2010–2015.”
Let us recall that on June 16, 2014, Russia completely stopped gas supplies to Ukraine, demanding repayment of $1,45 billion for gas supplied in 2013. On the same day, Gazprom applied to the Stockholm Arbitration Court to recover from the Naftogaz company unpaid debt for natural gas and interest on debt totaling over $4,5 billion. In June 2015, Gazprom increased the amount of claims to $29,2 .2016 billion, in March 31,7 – up to $XNUMX billion.
The Stockholm arbitration between Naftogaz and Gazprom has concluded, and the parties are awaiting the judges' decision.