The arbitration has refused “to Gazprom” in the recovery of $34.5 billion with “Naftogaz of Ukraine”

Photo: Ekaterina Kuzmina / RBC

The Stockholm arbitration court abolished the requirement of “take or pay” contract, “Gazprom” to “Naftogaz” on gas supplies to Ukraine. The court also ordered the Russian company to revise the formula of gas prices from 2014

The Stockholm arbitration court decided to cancel the requirement of “take or pay” (take-or-pay) of Russian energy company “Gazprom” under the contract with “Naftogaz” on gas supplies to Ukraine. This reports the press service of the Ukrainian oil and gas holding in his Facebook. General requirements “Gazprom” to “Naftogaz” associated with the condition “take or pay” amount to $34.5 billion

“The Stockholm arbitration court fully satisfied the claim “Naftogaz” on the principle of take-or-pay,” — said in a statement. In addition, the court satisfied the claim “Naftogaz” on the revision of the contract price to reflect market conditions (we are talking about gas prices starting in 2014).

In a press-service NAK “Naftogaz Ukraine” confirmed RBC that the company received the decision of the Strasbourg court, which “completely rejected the condition “take or pay”. In addition, the court was fully repealed the ban on gas re-export.

In 2015, Gazprom filed a claim to “Naftogaz”, which demanded to collect from the Ukrainian state-owned companies charge for arrears of contractual gas volumes in 2012-2013, which she had to pay by the rule of take-or-pay (“take or pay” annual payment minimum annual quantity of fuel. — RBC). As of late may, the requirement “Gazprom” to “Naftogaz” amount to $47,1 billion, Most of them associated with the condition “take or pay” ($34.5 billion) and for the shortage of gas by the Ukrainian side in 2012-2014, the third quarter of 2015 and second—fourth quarter of 2016. Commercial Director of “Naftogaz of Ukraine” Yuriy Vitrenko in March admitted that in case of loss of “Gazprom” in the Stockholm arbitration court, the Ukrainian company will go bankrupt.

With the participation of Sergey Vitko

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