«Naftogaz» claimed victory over Gazprom in the Stockholm arbitration on the gas supply contract

NAK «Naftogaz Ukraine» has won the arbitration against the Russian «Gazprom» on gas supply contract on all contentious issues. This was reported on the page of «Naftogaz» in Facebook.

«The arbitration court fully dismissed the claims of «Gazprom» provision «take or pay» in the amount of $56 billion over the 2009-2017 years. «Naftogaz» has achieved reduction of future required annual volumes of more than 10 times in accordance with its actual need for imported gas,» – noted in the company.

It is reported that the price of gas from «Naftogaz» in the second quarter of 2014, reduced by 27% – from $485/thousand m3 to us $352/m3.

«Thanks to the revision of the contract price, «Naftogaz» has saved $1.8 billion on gas purchased in 2014-2015,» said the company.

«Naftogaz» noted that the Stockholm arbitration court invalidated the «onerous contract provisions» to bring it to market to European standards.

Naftogaz estimates the total positive effect of arbitral awards more than $75 billion for the entire term of the contract for the supply of gas,» the company said.

It is noted that the arbitration decision in the case of the transit are due on 28 February 2018. In the framework of this proceeding «Naftogaz» requires «Gazprom» $16 billion.

https://www.facebook.com/NaftogazUA/posts/1595162233896889



«Naftogaz» claimed victory over Gazprom in the Stockholm arbitration on the gas supply contract 22.12.2017

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Декабрь 22nd, 2017 by
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