Contents tagged with Naftogaz

  • Head of Naftogaz: Ukraine is mandated to buy Russian gas

    The purchase of Russian gas is beneficial from the point of view of commercial logic, since the court set the price of gas purchases below European market value, stated Andriy Kobolyev, the chairman of the board of Naftogaz of Ukraine on Channel 5 TV.

    Kobolyev said, “We have completely annulled $56 billion and this cancellation was not for nothing. The court believes that the contract still exists. Half of the import needs is exactly the balance between Russia and Europe with the line between …

  • Ukrainian Naftogaz and Russia’s Gazprom to begin negotiations on gas delivery to Ukraine

    According to the Chief Commercial Officer of Naftogaz, Yuriy Vitrenko, Naftogaz of Ukraine and Gazprom will soon start negotiations on the implementation of the Stockholm Arbitration Court decisions within the contract of purchase of Russian gas, UNIAN reports.

    "Negotiations will start in the coming days. We won’t disclose the details. It’s about the implementation of the final decision on the gas contract,” he said.

    Vitrenko noted that according to the Stockholm Arbitration Court decision, …

  • Kolomoyskyi’s claims against Ukraine in the Ukrnafta case reach $5.4 billion

    The claims of Ukrnafta's minority shareholders controlled by Ihor Kolomoyskyi against Ukraine increased to $5.4 billion, according to Interfax-Ukraine with reference to the data of the Ministry of Justice published in Prozorro.

    In September 2017, in the prospectus of Eurobonds of Ukraine, it was stated that claims of minority shareholders in accordance with the suit filed with the Arbitration Institute of the Stockholm Chamber of Commerce against Ukraine amounted to $4.7 billion. The …

  • Poroshenko: Ukraine will buy Russian gas on its own terms

    President Petro Poroshenko has said that Ukraine is ready to resume gas purchases from Russia.

    "What has happened in the past two years? We are energetically independent. They [Russia] are knocking: can you take our gas? No, we are all right. If it is cheap and honest, not corrupt, [then] please," he said during a working trip to the Odessa region, writes Interfax-Ukraine.

    At the same time, Poroshenko stressed that, with respect for the above-mentioned conditions, the Ukrainian authorities …

  • Naftogaz: Russia's Gazprom will pay Ukraine 3 times more 'than it can receive for the sale of its gas'

    Gazprom will pay Ukraine 2-3 times more "than it can receive for the sale of its gas," to transport it through Ukraine, according to a Facebook post made by the Chief Commercial Officer (CCO) of Naftogaz, Yuriy Vitrenko, UNIAN reports.

    Vitrenko reported that the price of gas for Ukraine will be calculated according to the German market. "For those who like to count who and how much will be paid, Gazprom pays us 2-3 times more for transit than it will be able to receive for selling its gas," he …

  • Naftogaz Chief: Nord Stream 2 is partially a military project

    The CEO of Naftogaz of Ukraine, Andriy Kobolyev, said during a broadcast on Channel 5 that the company's task for 2018 is to halt the Nord Stream 2 project by reforming the Ukrainian gas transportation system (GTS).

    "Indeed, this pipeline is a big risk, and its construction will fundamentally undermine the economy of the whole country. We believe that its construction is partly a military project, [and] that Putin's goal is to eliminate the transport of Russian gas from the territory of …

  • Poroshenko congratulates Ukrainians on the victory over Russia's Gazprom

    The decision of the Stockholm Arbitration Court on the dispute between Naftogaz of Ukraine and Gazprom is "a historic victory", said Ukrainian President Petro Poroshenko, according to the Presidential press service. The outcome of the trial is of "the utmost importance" with regard to the country's national security, the president said. "If there had been a loss in this court, Ukraine would face a direct threat of default," Poroshenko stressed during a meeting with the head of Naftogaz, Andriy …

  • Naftogaz of Ukraine expects to receive up to $16 billion from Russian Gazprom

    The national holding company Naftogaz of Ukraine expects to receive compensation in the sum of $6.5 billion to $16 billion from Russian Gazprom following the Stockholm Arbitration Court’s consideration of gas transit contracts, UNIAN reports citing the company's Chief Commercial Officer, Yuri Vitrenko, stated this.

    "The amount of our claim will be between $6.5 and $16 billion, depending on whether Ukrainian legislation is applied," he said.

    Vitrenko added that he anticipates the Stockholm …

  • Ukraine's Naftogaz files $5 billion lawsuit against Russia for seizing assets in Crimea

    Naftogaz has filed a lawsuit against Russia, demanding $5 billion of reimbursement for the loss of assets in annexed Crimea. The statement has been received by the tribunal at the Permanent Court of Arbitration in the Hague, Naftogaz’s press service reports.

    Alongside Naftogaz, six subsidiary companies took part in initiating the litigation: Chornomorneftegaz, Ukrtransgaz, Likvo, Ukrgazdobycha, Ukrtransnafta and Gaz Ukrayiny.

    According to the company, a court ruling is expected by the end of 2 …

  • Gazprom to increase gas transit through Ukraine

    Gazprom has applied for an increase of gas transit through Ukraine to 315 million cubic meters per day, according to the press service of NJSC Naftogaz of Ukraine.

    Gazprom’s daily application for increase has grown by 47 million cubic meters in the last week. Naftogaz is ready to ensure the implementation of the enlarged applications in full amount, although such significant fluctuations in the volumes of transit are not specified in the contract terms between Naftogaz and Gazprom.

    Naftogaz …