Contents tagged with Naftogaz

  • Ukraine's Naftogaz demands $8 billion from Russia for loss of Crimean assets

    The Ukrainian oil and gas company Naftogaz has responded to Russia’s counterclaim regarding the compensation amount for Naftogaz’s loss of assets in Crimea, the company announced on Twitter.

    According to Naftogaz’s statement, Russia filed a claim in December 2019.

    Naftogaz also confirmed the amount of damage compensation it is demanding – around $8 billion, a figure which includes net losses and interest.

    The company said in its tweet that the losses were caused by the illegal expropriation …

  • Ukrainian Naftogaz considers filing new lawsuits against Gazprom

    Naftogaz is considering the possibility of filing new lawsuits against Gazprom, the Ukrainian company’s executive director Yuriy Vitrenko wrote on Facebook.

    He said that this could involve a complaint to the European anti-monopoly office regarding Gazprom’s “abuse of its dominant position”, with possible litigation in the EU Court of Justice, as well as an international arbitration in Zurich regarding the new transit contract, on the basis of Swiss law.

    Naftogaz might also appeal to the …

  • In 2019 volume of Russian gas transit through Ukraine grew with Poland's help

    In 2019, the transit of Russian gas through Ukraine went up by 3%, even though it was supposed to go down. Kyiv was assisted by Warsaw, which in court managed to have additional restrictions placed on the ground-based continuation of the Nord Stream pipeline in Germany.

    According to the operational data of the Ukrainian national oil and gas company UkrTransGaz’s , 89.2 billion cubic meters (bcm) of gas was transported through Ukraine in 2019, 2.7 bcm more than in 2018. The Ukrainian gas …

  • Kyiv: Ukraine not ready to resume direct gas deliveries from Russia

    Dmytro Kuleba, Ukraine’s Vice Prime Minister for European and Euro-Atlantic Integration, believes that Ukraine is not ready to accept direct gas deliveries from Russia, and intends to do this only as part of the European energy market and its rules

    “I think that we are not yet ready to return to direct deliveries. But that’s not even the point. My goal as Vice Prime Minister of Eurointegration is to ensure that Ukraine’s gas market functions exclusively on the basis of the standards of the …

  • Ukraine signs contract for gas transit from Russia to Europe

    Ukrainian President Volodymyr Zelensky said that a contract was signed for the transit of Russian gas to Europe from Russia through the territory of Ukraine for five years.

    "This is the end of the year, but not the end of our achievements. Ukraine has signed a gas transit contract for five years, during which we will receive at least over $7 billion. The parties can extend the contract for another ten years," wrote Zelensky on his Facebook page.

    "The Ukrainian gas transit system will be given …

  • Kremlin: payment of $2.9 billion to Ukraine was a difficult decision

    Russian Deputy Prime Minister Dmitry Kozak said on Vesti Nedeli program on Russia-1 TV channel that Gazprom's $2.9 billion payment to Naftogaz of Ukraine was a difficult decision for the Russian side.

    "There was a choice between bad and worse. But all of us together, we can lose much more, unprecedented amounts," said Kozak as quoted by TASS.

    In mid-December, Gazprom and Naftogaz agreed on the terms and volumes of Russian gas transit to Europe. The parties also agreed to give up mutual claims. …

  • Moscow: Gazprom's $3 billion payment to Ukraine’s Naftogaz is ‘a drop in the ocean’

    Russian Deputy Prime Minister Dmitry Kozak, who oversees the fuel and energy sectors, said in an interview with Russia-24 TV channel, that the Russian government considers that almost $3 billion, which the Russian gas giant Gazprom agreed to pay to Ukrainian company Naftogaz accorfing to the ruling of the Stockholm Chamber of Commerce, is "a drop in the ocean."

    "Neither Ukraine nor we can assume how much anyone has benefited [from the new transit agreement]. The $2.9 billion that we will pay …

  • Gazprom to pay Ukraine’s Naftogaz $2.9 billion by end of 2019

    Russian Gazprom and Naftogaz of Ukraine will sign an agreement to settle all reciprocal claims relating to their current contracts in accordance with the gas cooperation protocol, Gazprom CEO Alexey Miller told the press on Saturday, December 21. “The settlement agreement envisages the waiver of new claims, the withdrawal of arbitration and court claims for which there are no final decisions, and payment in accordance with the final decision of the Stockholm Arbitration Institute,” the Interfax …

  • Russia agrees to pay $3 billion compensation to Ukraine's Naftogaz

    Ukrainian President’s Aide Andriy Yermak said that after the gas transit talks in Minsk, the Russian side agreed to pay Ukraine $3 billion of compensation according to the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce, reports Hromadske.

    "We are returning home with excellent news, and we will have a transit contract on favorable terms for Ukraine. Thanks to these arrangements, Ukraine will receive $3 billion according to the ruling of the Stockholm arbitration court," …

  • Russia and Ukraine reach agreement on gas transit

    After hours of talks between representatives of Russia and Ukraine in Berlin on December 19, Vice President of the European Commission Maroš Šefčovič said that after months of negotiations Russia and Ukraine reached an agreement in principle on gas transit. Germany and the European Union mediated the negotiations.

    According to Šefčovič, the agreements that were reached at the meeting will be additionally discussed in Moscow and Kyiv on December 20. He called the outcome of the talks in Berlin …