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24.55 24.9
26.9 27.5
Economy 2019-08-15T04:12:05+03:00
Ukrainian news
Gazprom Will Appeal Against Arrest Of Its Assets In Luxembourg Under Respective Naftogaz's Appeal

Gazprom Will Appeal Against Arrest Of Its Assets In Luxembourg Under Respective Naftogaz's Appeal

The Russia's gas monopoly Gazprom will appeal against the arrest of its assets in the Grand Duchy of Luxembourg imposed under respective appeal of the Naftogaz of Ukraine national joint-stock company.

This follows from the annual report of Gazprom, Ukrainian News Agency reports.

According to the report, on February 15, 2019, Naftogaz sent a notice of arrest of any indebtedness and assets of Gazprom in Luxembourg to Luxembourgish-based outlets of the largest banks and to Gas Capital S.A.

As Ukrainian News Agency earlier reported, the Russian Federation relates further gas transit via Ukraine to political stability and achievement of agreements between Naftogaz and Gazprom.

The Naftogaz of Ukraine national energy company is ready to reduce the size of its claim against the Gazprom gas company (Russia) from USD 12 billion to USD 2 billion if a long-term contract for transit of natural gas through Ukraine is concluded.

Vitrenko said he was referring to the new arbitration claim that Vitrenko filed in the spring and that this was in addition to the USD 2.7 billion that has already been collected from Gazprom.

Naftogaz of Ukraine’s Board Chairman Andrii Kobolev recently said that the company was willing to withdraw or amend the claim it filed against the Gazprom at the Arbitration Institute of the Stockholm Chamber of Commerce in connection with their contract for transit of natural gas through Ukraine if a long-term contract for gas transit was concluded.

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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