Contents tagged with Naftogaz

  • Ukraine's Naftogaz appeals suspension of court decision in Gazprom's case

    Naftogaz of Ukraine has appealed to the Stockholm Court of Appeal regarding the suspension of the ruling of the Stockholm Arbitration Court, which was done at Gazprom’s request, reported RIA Novosti, citing the Stockholm Court of Appeal.

    Naftogaz submitted an appeal to review – as a soon as possible – the decision to suspend the implementation of the February 28, 2018 ruling of the Stockholm Arbitration Court concerning the dispute between Naftogaz and Gazprom. It was explained that Naftogaz …

  • 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’ …

  • 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 …

  • 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 …

  • 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 …

  • 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 …

  • 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 …

  • 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 …

  • Ukraine's Naftogaz: Gazprom stopped sending gas bills for the Donbas

    Naftogaz of Ukraine claims that Russian Gazprom has stopped sending bills for the gas which is supplied to the territories of Donbas that are not under the Ukrainian government’s control.

    However, the Ukrainian company reports that, “the volume of gas supplies has increased, which also shows in Gazprom’s reports.” Gazprom has not commented on this statement yet.

    In February 2015, Gazprom began to supply gas to separatists in the the Donbas through gas-measuring points that are not controlled …

  • Hague Arbitration court to commence hearings for Ukraine's Naftogaz case against Russia on May 14-20

    Next week, the Ukrainian National Joint-Stock Company [NJSC] Naftogaz and six of its subsidiaries will initiate a court hearing against Russia in the Arbitration Court in Hague. Naftogaz is pursuing legal action to recover lost company assets which were seized by Russia in the Crimea, the Naftogaz press service reports.

    During the hearings scheduled for May 14-20, the court will determine whether Naftogaz has grounds to take Russia to court under the Russian-Ukrainian bilateral agreement on …