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Economy 2019-03-15T04:08:03+02:00
Ukrainian news
Naftogaz Estimates Losses From 2009 Gas Contracts With Russia At USD 32 Billion

Naftogaz Estimates Losses From 2009 Gas Contracts With Russia At USD 32 Billion

The Naftogaz of Ukraine national joint-stock company has estimated Ukraine's losses from the 2009 gas contracts between the Naftogaz of Ukraine national joint-stock company and the Russia's gas monopoly Gazprom at USD 32 billion.

Board Chairperson of Naftogaz of Ukraine Andrii Kobolev has said this at a press-conference, Ukrainian News Agency reports.

As Ukrainian News Agency earlier reported, Naftogaz of Ukraine filed a claim with the Arbitration Institute of the Stockholm Chamber of Commerce on July 6, 2018, asking the Arbitration Institute to revise the gas transit tariff under its contract with Gazprom, and tentatively assessed its monetary claim at USD 11.58 billion, excluding interest.

The Arbitration Institute of the Stockholm Chamber of Commerce ruled in favor of Naftogaz of Ukraine on February 28, 2018, 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.

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

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