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Economy 2019-08-15T05:01:47+03:00
Ukrainian news
Gazprom Appeals Against Stockholm Arbitration Decision On Gas Transit Contract With Naftogaz

Gazprom Appeals Against Stockholm Arbitration Decision On Gas Transit Contract With Naftogaz

Naftogaz, natural gas, Gazprom, Stockholm Chamber of Commerce

The Gazprom gas company (Russia) filed an appeal with the Svea Court of Appeal (Sweden) on March 29, asking the court to overturn part of the Arbitration Institute of the Stockholm Chamber of Commerce's final decision in the dispute between the company and the Naftogaz of Ukraine national energy company over their contract for transit of natural gas.

The Russian news agency, TASS, reported this, citing a statement by the Russian company, the Ukrainian News Agency reports.

According to the report, Gazprom said it filed the appeal because of "significant procedural irregularities committed by arbitrators during adoption of this decision."

As reported earlier, Gazprom filed an appeal on March 21, asking for partial cancellation of the Arbitration Institute of the Stockholm Chamber of Commerce's on decision in its dispute with Naftogaz of Ukraine over their contract for gas supplies.

As Ukrainian News Agency earlier reported, the Arbitration Institute of the Stockholm Chamber of Commerce ruled in favor of Naftogaz of Ukraine on February 28 in a dispute in which it claimed USD 4.63 billion from Gazprom as compensation for failing to deliver the agreed volumes of natural for transportation on transit through Ukraine.

Gazprom will have to make a net payment of USD 2.56 billion to Naftogaz of Ukraine since the arbitration institute previously ordered Naftogaz of Ukraine to pay Gazprom for gas supply arrears.

Gazprom's CEO Alexei Miller announced on March 2 that the company intended to begin the process of terminating its contracts with Naftogaz of Ukraine for supply and transit of natural gas.

Больше новостей о: Naftogaz natural gas Gazprom Stockholm Chamber of Commerce

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