Russia's Gazprom to pay Ukraine's Naftohaz $2.56B under Stockholm court ruling

Naftohaz Ukrainy NJSC Wednesday won dispute with Russia's gas monopoly Gazprom at the Stockholm arbitration court.

The press service of the Ukrainian company says the Arbitration ruled that Gazprom pay Naftohaz $4.63 billion, Censor.NET reports citing UNIAN.

"The arbitration ruled that Naftohaz be paid $4.63 billion. Following two arbitration proceedings, Gazprom owes $2.56 billion," the statement reads.

According to the press service, the Stockholm Arbitration satisfied Naftohaz's claims to Gazprom demanding compensation for gas transit volumes that did not meet contractual terms. "The arbitration court rejected Gazprom's claims regarding the fines for the volumes of transit gas, allegedly taken by Naftohaz illegally," the company added.

Earlier, the Arbitration Institute of the Stockholm Chamber of Commerce has been considering the claims filed by Naftohaz on behalf of Ukraine against Russia's Gazprom regarding the transit of Russian gas to the EU through Ukraine and the purchase of Russian gas by Ukraine. On Dec. 22, Naftohaz received the final award of the Arbitration Institute of the Stockholm Chamber of Commerce related to the gas purchase contract. Thus, the court satisfied a number of demands of the Ukrainian side, that is reduced the gas purchase price in the second quarter of 2014 to $352 per 1,000 cubic meters and rejected Russia's Gazprom take-or-pay claims amounting to $56 billion.

Since not all of the demands were satisfied, Naftohaz was left owing Gazprom some $2 billion. The latest ruling concerned the transit contract, which was signed in 2009. According to the deal, Gazprom was to transport via Ukraine 110 billion cubic meters of gas per year. Since the condition has not been met, Naftohaz demanded that the court recover $16 billion in compensation from the Russian company.

Источник: https://censor.net.ua/en/n3053144