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Economy 2020-10-15T04:39:50+03:00
Ukrainian news
Naftogaz Receives USD 2.9 Billion From Gazprom Pursuant To Stockholm Arbitration Decision

Naftogaz Receives USD 2.9 Billion From Gazprom Pursuant To Stockholm Arbitration Decision

Naftogaz, Gazprom, Stockholm Arbitration

The Naftogaz of Ukraine national joint stock compayn has received USD 2.918 billion from the Gazprom gas company (Russia) in implementation of a decision by the Arbitration Institute of the Stockholm Chamber of Commerce.

The Naftogaz group’s Executive Director Yurii Vitrenko announced this on Facebook, Ukrainian News Agency reports.

“Ukraine has received USD 2.918 billion from Gazprom pursuant to a Stockholm arbitration decision,” Vitrenko wrote.

Naftogaz of Ukraine confirmed this information in an official statement issued a few minutes later.

The payment includes the arbitration award (USD 2.56 billion) and the interest accrued since the announcement of the arbitration award on February 28, 2018.

Naftogaz of Ukraine noted in the statement that it is continuing negotiations with Gazprom on cooperation after expiration of the 2020 gas transit contract.

“Naftogaz of Ukraine welcomes the Russian side’s recognition of the need to comply with the arbitration decisions of 2017-2018 and its intention to continue transporting gas to the EU through Ukraine. The two parties are continuing negotiations on the terms of further cooperation after expiration of the existing contract on January 1, 2020,” Naftogaz of Ukraine said in the statement.

As Ukrainian News Agency earlier reported, Ukraine, Russia, and the European Commission agreed in principle on a new contract for transit of Russian gas and settlement of mutual claims during the latest round of trilateral talks, which took place in Minsk on December 20.

Ukraine and Russia have agreed a new five-year gas transit contract, which could be extended after 2024. The gas transit volumes under the agreement are 65 billion cubic meters in 2020 and 40 billion cubic meters per year in the period of 2021-2024.

Больше новостей о: Naftogaz Gazprom Stockholm Arbitration

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