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Economy 2019-03-15T05:45:35+02:00
Ukrainian news
Poroshenko Expects Naftogaz To Win Stockholm Arbitration Dispute With Gazprom Over Gas Contract In March 2017

Poroshenko Expects Naftogaz To Win Stockholm Arbitration Dispute With Gazprom Over Gas Contract In March 2017

President Petro Poroshenko expects the Arbitration Institute of the Stockholm Chamber of Commerce to make a decision in favor of the Naftogaz of Ukraine national energy company in its dispute with the Gazprom company (Russia) over the 2009 contract for purchase/sale of natural gas in March 2017.


Poroshenko's spokesman Sviatoslav Tseholko announced this on Twitter, Ukrainian News Agency reports.

Naftogaz of Ukraine assesses its chances of winning the arbitration dispute with Gazprom at more than 60%.

Naftogaz of Ukraine is convinced that domestic gas prices for all categories of consumers will be reduced if the contractual dispute is resolved in its favor.

As Ukrainian News Agency earlier reported, Naftogaz Ukraine expects the Arbitration Institute of the Stockholm Chamber of Commerce to make a decision on the contractual dispute in the first quarter of 2017.

In this dispute, Naftogaz of Ukraine is demanding about USD 18.2 billion from Gazprom, of which USD 14.1 billion is compensation for overpayment for gas during the period from 20 May 2011 to October 2015.

In addition, Naftogaz of Ukraine is demanding revision of the contractual price for gas.

Gazprom is also demanding a total USD 38.7 billion from Naftogaz of Ukraine, including a penalty of USD 29.2 billion for violating the "take or pay" principle.


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