Contents tagged with Gazprom
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Gazprom loses in court to Ukraine's Naftogaz once again
The Svea Court of Appeal (Sweden) has dismissed Gazprom’s complaint that there was a serious violation of Swedish law in the drafting of the ruling made by the Stockholm Arbitration Institute to collect $2.6 billion in favor of Naftogaz.
“After studying the arguments presented by Naftogaz, the court dismissed Gazprom’s baseless claims that a significant part of the court ruling’s rationale on transit had allegedly been written by the administrative secretary,” Naftogaz noted in a public post. …
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Stockholm Arbitration Court supports Poland’s demand for a reduction in gas prices from Gazprom
In the interim judgment on the claim of the Polish oil and gas company PGNiG, the Stockholm Arbitration Court ruled that it can demand that the Russian gas monopoly Gazprom reduce gas prices, as evidenced by the partial decision of the Court published by the press-service of the PGNiG.
The Polish company has the right to demand lower prices for Gazprom’s Russian gas within under the so-called Yamal contract, the long-term contract under which the Russian company supplies Poland with gas.
The …
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Swedish appeals court upholds suspension of Stockholm arbitration ruling on Gazprom vs Naftogaz case
The Swedish Svea Court of Appeal upheld its decision to suspend the February 28 ruling, which was made by the Stockholm arbitration court, concerning the gas transit contract dispute between Gazprom and Naftogaz.
“Naftogaz tried to appeal this court order, but the court ruled that its arguments were insufficient,” Gazprom reported through its press service. “This circumstance strengthens Gazprom’s position for appealing attempts by Naftogaz to enforce the aforementioned arbitration ruling in …
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Gazprom’s European partners under threat of US sanctions because of Nord Stream 2 pipeline
European partners of Gazprom are frightened of coming under US sanctions for helping to construct the Nord Stream 2 gas pipeline, said a member of the board of the German energy company Uniper, RBC new agency reported.
Reiner Hartmann heads the Russian branch of Uniper, a company that belongs to the Nord Stream 2 consortium of investors. He said the likelihood that the United States will indeed impose sanctions ,that it is threatening with, is "extremely threatening" for all of Gazprom's …
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UK seizes assets of Russia's gas conglomerate Gazprom
The UK has followed Switzerland and the Netherlands in the seizure of Gazprom assets.
Despite the appeal filed at the Swedish Arbitration Institute and the suspension of the enforcement of the $2.6 billion fine in favor of Naftogaz Ukraine, the London Commercial Court has authorized the freezing of Gazprom’s assets in the UK, TASS reported, citing the Ukrainian company’s press service.
The order to take interim measures was issued on Monday: in the next 48 hours, Gazprom must provide Naftogaz …
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Russia's Gazprom to build pipeline through North Korea
Another Russian pipeline to Asia, announced by billionaire and major Gazprom contractor Gennady Timchenko in May, will pass through North Korea.
Gazprom, which is already engaged in the construction of gas pipelines to Turkey, the EU and China with a total cost of $25 billion, is negotiating a new construction project with South Korea, Gazprom deputy chairman Vitaly Markelov announced on Friday.
The project in question was mentioned in a memorandum with the South Korean company Cogas in 2008, …
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Russian gas conglomerate Gazprom cut off from international capital markets
The Stockholm Arbitration Institute’s ruling obligating Gazprom to pay Naftogaz Ukraine $2.6 billion has threatened to disrupt the Russian gas company’s foreign loan plans. The loans in question would be used to finance the construction of pipelines to China, Turkey and around Ukraine.
Due to the seizure of its assets in Switzerland and the Netherlands at Naftogaz’s request, Gazprom was forced to cancel its placement of eurobonds scheduled for the middle of June, an informed source told …
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Swedish appeals court suspends arbitration award to be paid by Gazprom to Ukraine's Naftogaz
The Swedish appeals court granted the request of the Russian company Gazprom to suspend the decision of the Stockholm arbitration court in the company’s dispute with the Ukrainian company Naftogaz. This was reported by Ukrainian-Interfax, citing a press release from Gazprom.
“The Court of Appeal agreed that there are sufficient grounds for suspending the execution of the Stockholm arbitration award. The issuance of this order deprives Naftogaz of Ukraine of grounds to attempt to seize Gazprom’ …
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Media: heads of Ukraine's Naftogaz reward themselves with nearly $14 million after victory over Gazprom
Ukraine’s Naftogaz Board of Directors has awarded Andriy Kobolyev, Chairman of the Board, and Yuriy Vitrenko, Commercial Director, a combined total of $13.9 million from the award earned in the company’s legal victory over Gazprom in the Stockholm Arbitration Court, reported the newspaper Dzerkalo Tyzhnia, citing its own sources.
In total, the Supervisory Board decided to award employees nearly $37 million. This amount will be distributed among 41 employees who "directly or indirectly made a …
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Russia's Gazprom has filed an appeal in Swiss courts regarding seizure of assets in the Netherlands
Russian gas company Gazprom has appealed to the Swiss court system regarding the seizure of its assets in the Netherlands.
Gazprom hasfiled an appeal following reports of the seizure of its property in the Netherlands in response to a legal decision in favor of Naftogaz Ukraine in its dispute with the Russian company. Gazprom has stated that no official notifications regarding the launch of arrest procedures were received.
In an officially released statement, Gazprom noted that it has filed a …