Contents tagged with Gazprom
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Gazprom decides not to hurry with the payment of $2.56 billion to Ukraine's Naftogaz
Russian Gazprom is in no hurry to pay Ukrainian Naftogaz the $2.56 billion ordered by the court because they have no guarantee that the money will be returned if the decision of the Stockholm arbitration is cancelled,s reported TASS with reference to Gazprom's Deputy Head, Sergey Kuznets.
"We believe that we just need to go a little slower. We need to get to the bottom of this affair. Let's finally put this matter to rest: who owes to whom," he noted.
According to Kuznets, the Russian company …
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Naftogaz invites Gazprom for transit talks
Naftogaz Ukraine (NAK) has suggested that Russian Gazprom should negotiate terms for the future transit of Russian gas to the EU in a trilateral format organized by the European Commission, reported Interfax-Ukraine, citing NAK’s press service.
"We suggest that Mr. Miller discuss this issue at the talks initiated by the European Commission," the message said.
Earlier, Gazprom Deputy Chairman Alexander Medvedev said that he did not understand who on the Ukrainian side was in charge of …
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Netherlands follows Switzerland in seizure of Gazprom assets
The Netherlands has followed Switzerland in the seizure of Gazprom’s assets in Europe.
According to the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce that Gazprom must pay Ukraine $2.6 billion in compensation for the shortfall in gas transit, Gazprom’s shares in its subsidiary companies in the Netherlands have been arrested, stated the press service of Naftogaz Ukraine.
Petitions for the implementation of restrictive measures were made at a Dutch court, and were …
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Ukraine's Naftogaz to pay 41 employees $46 million in bonuses for the victory over Gazprom
41 employees of Naftogaz will receive big bonuses for Naftogaz’s victory in a dispute with Gazprom. The decision was approved by Naftogaz’s supervisory board.
The press service of the Ukrainian company said that the total amount of the bonus payment is $46.3 million, of which $9 million well be spent on income tax and other fees. This is 1% of the amount that Gazprom must pay to Naftogaz of Ukraine in accordance with the decision of the Stockholm Arbitration Institute that settled the gas …
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Russia considers running Turkish Stream Gas pipeline through Bulgaria
Following talks with Bulgarian Prime Minister Boyko Borisov, Russian President Vladimir Putin said that Gazprom was "working out in practical terms" the construction of a second gas line stretching from Turkey to Bulgaria for Turkish Stream, which is intended for the transit of Russian gas through Turkey to the countries of the Southeast Europe, reported the newspaper Kommersant.
Initially, Gazprom was considering two routes – one through Greece to southern Italy (nicknamed the Poseidon …
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Switzerland starts seizing Gazprom assets
Naftogaz Ukraine has begun the procedure of exacting from Gazprom a fine of $4.6 billion, which was awarded to the Ukrainian company in February 2018 by the Arbitration Institute of the Stockholm Chamber of Commerce.
The first to be hit were the Russian company’s assets in Switzerland, where the companies Nord Stream AG and Nord Stream 2 AG are registered. The first company oversees the Nord Stream and is 51% owned by Gazprom, the second belongs to Gazprom completely, and is constructing the …
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Media: at Ukraine’s request shares of Nord Stream and Nord Stream-2 may be seized in European jurisdictions
Naftogaz of Ukraine has begun the process of recovery in the courts of the $2.6 billion debt of Russia’s gas conglomerate Gazprom in compliance with the decision of the Arbitration Institute of the Stockholm Chamber of Commerce, Interfax-Ukraine reports with reference to a source in the government.
It is noted that the legal process has been initiated in Switzerland, the Netherlands and the United Kingdom under article 5 of the New York Convention on the Recognition and Enforcement of Foreign …
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Russia's Gazprom requests reversal of Stockholm Arbitration Court decision regarding Ukraine's Naftogaz dispute
On Monday, May 28, Gazprom sent an appeal to the Svea Court of Appeal in Stockholm for a full reversal of the Stockholm Arbitration Court’s earlier decision regarding the transit contract dispute between Gazprom and Naftogaz Ukraine.
Gazprom said that an unauthorized person intervened in the Stockholm Arbitration Court’s verdict process, which decided that the Russian company Gazprom must pay a US $4.7 billion fine to Naftogaz Ukraine.
According to Interfax, Gazprom released a clarifying …
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Turkey allows Russia's Gazprom to extend Turkish stream pipeline to the EU
Turkey has concluded an agreement with the Russian Energy Corporation Gazprom regarding construction of the Turkish stream pipeline’s second-string land section, which involved an arrangement to supply gas to the EU, RIA Novosti reports. This agreement will enable Russia to extend its gas pipeline across the territory of Turkey and into the EU border.
At the end of April, Gazprom announced the completion of the Turkish stream’s first-string section. The first-string of this Russian gas …
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Ukrainian President: Russia's Gazprom will pay its debt down to the last penny
During the first meeting of the National Investment Council, Ukrainian President Petro Poroshenko said he is confident that Ukraine will manage to get payments from the Russian company Gazprom granted by the decision of the Stockholm Arbitration Court.
"Now Gazprom does not pay us, but so that you have no doubts: every last penny [that Ukraine will receive from Gazprom] will go to the state budget," Poroshenko said.
In February 2018, the Stockholm Arbitration Court obliged Gazprom to pay the …