In Stockholm will start hearings on the case of Naftogaz and Gazprom

В Стокгольме стартуют слушания по делу Нафтогаза и Газпрома

The court will consider a separate decision on the conflict

The parties were unable to agree on a separate agreement.

Arbitration in Stockholm today, October 9, begin hearings on the dispute of Naftogaz and Gazprom. About this in Facebook said the chief commercial Director of Naftogaz Yuriy Vitrenko.

“Begin hearings in the Stockholm arbitration. Since Naftogaz and Gazprom failed to reach agreement on the implementation of individual decisions (Separate Award), adopted by the court of arbitration in June this year, now the court must consider the parties ‘ positions and to take appropriate decisions,” he wrote.

Vitrenko said that earlier arbitration completely and finally rejected Gazprom’s claims for payment of Naftogaz amounts under the contract “take or pay”.

The court also recognized the right of Naftogaz on the revision of the contract price and bringing it to the level of prices on the European market (a specific hub) from April 2014, and received from Gazprom payment for overpayment.

“Now the deadline for the adoption of decisions of arbitration as a contract for the purchase and sale of gas and for gas transit contract – end of November this year. The contract for gas transit in particular, we desired to bring the contract into line with European and Ukrainian energy legislation to revise the tariff in accordance with the European conditions of the tariff, and to pay us compensation for the lost revenue from transit,” – said Vitrenko.

He concluded that we are talking about compensation from several billion dollars to an amount higher than 10 billion.

As reported Корреспондент.net, counterclaims of Gazprom and Naftogaz on gas supply contract was filed in the Stockholm arbitration court in June 2014, the oral hearing was completed in October 2016, a decision expected in the second quarter of 2017.