“Naftogaz” has put forward counter claims to Gazprom for $14 billion

Photo: Zurab javakhadze/TASS

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“Naftogaz” in their counter claim to Gazprom in the case of the conditions of the contract for the supply of gas to Ukraine demands from the Russian company over us $14 billion

Gazprom first announced the amount of counter-claims by “Naftogaz” in the case of the conditions of the contract for the supply of gas to Ukraine. In statements of Russian companies according to IFRS for the first half of 2016 said that the amount of claims of “Naftogaz” is over $14,23 billion.

In the report, the company reminds that on June 16, 2014 “Gazprom” has addressed in Arbitration Institute of Stockholm chamber of Commerce with a claim to “Naftogaz” for the unpaid gas. The amount of the claim — $31,75 billion.

“16 Jun 2014 “Naftogaz of Ukraine” has addressed in Arbitration Institute of Stockholm chamber of Commerce <…> requirements retroactive changes in the price of natural gas, the recovery of all overpayments made since may 20, 2011, and cancellation provisions of the contract < … > prohibiting the implementation of supply it natural gas outside of Ukraine. Specified amount of claims of “Naftogaz of Ukraine” PJSC “Gazprom” amounted to over $14.23 billion,” — said in statements.

The document also says that the oral hearing scheduled for September—October 2016, and the decision of the arbitrators is planned before the end of March 2017.

In the Stockholm arbitration court also considered the claim “Naftogaz” to “Gazprom” submitted in October 2014, for the recovery of the Russian holding for payment not provided for the transit of volumes of gas and the interest on this amount. In February 2016, the head of “Naftogaz” Andrey Kobelev said that the amount of the claim to “Gazprom” “approaching $30 billion.” In August, he said that Ukraine will submit to the Stockholm arbitration a Supplement to the suit on the transit of gas.

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