Contents tagged with Naftogaz

  • Ukraine to spend nearly $6 million on lawyers in Crimea assets court case against Russia

    Naftogaz Ukraine intends to procure the services of legal advisers for its lawsuits against Russia in 2019 demanding compensation for seized Crimean assets, the Ukrainian company’s press service reports. 

    According to a notice on Naftogaz’s official website, the international legal firm Covington & Burling LLP will represent the country’s interests in the lawsuit against Russia for compensation of losses caused by the illegal expropriation of the company’s assets in Crimea. 

    “We expect the …

  • Kyiv: there will be no direct negotiations with Russia on gas transit

    Naftogaz CEO Andriy Kobolyev announced that in 2019, the Ukrainian company would continue negotiations on the transit of Russian gas through Ukraine. He stressed that the format of the negotiations will remain trilateral and not directly with Gazprom.

    "We rely on European law and Ukraine's interests and will start negotiations with Gazprom on further transit solely in the trilateral format with the participation of the European Commission,” Kobolev wrote on Facebook .

    In late December, …

  • Head of Crimea wants to send seized Ukrainian oil rigs to Syria

    In an interview with Radio Krym (Crimea), Russian head of Crimea Sergei Aksenov said that he is considering the possibility of sending to Syria the Chornomornaftogaz drilling rigs which were captured during the annexation of Crimea.

    “Today’s economy presupposes that if there are proposals from major players, who have certain resource capabilities, that would allow us to increase the number of facilities where we can produce oil and gas, then, of course, there is a possibility of public-private …

  • Ukraine's Naftogaz is looking for assistance of US courts in dispute with Russian Gazprom

    Naftogaz of Ukraine appealed to the courts of the Northern and Southern districts of Texas with claims against the American division of Gazprom Marketing & Trading (GM&T USA, subsidiary of the Gazprom group) and consulting company DeGolyer & MacNaughton (lead auditor of oil and gas refineries), Kommersant reported.

    The newspaper reported that Naftogaz requested the court to oblige the respondents to provide information and access to documents that will allow the Ukrainian company to file a new …

  • Ukraine starts withholding Gazprom gas transit payments to recover the debt

    Ukraine’s national oil and gas company Naftogaz recovered $3.8 million received in overpayment from Gazprom for the transit of gas in October towards the amount that Gazprom is obliged to pay according to the decision of the Stockholm Arbitration Court.

    “Naftogaz of Ukraine sent a statement to Gazprom about withholding the funds received for transit of gas this October in the amount of $3.8 million as payment of a fine that the Russian monopoly owes according to the Arbitration decision from …

  • Russia's Gazprom increased gas supplies to Donbas

    From January to September 2018, PJSC Gazprom supplied 1.75 billion cubic meters of gas to the territories of the Donetsk and Luhansk regions that are not controlled by Ukraine. That is 11.5% more than the same period in 2017 and 26.9% more than during nine months in 2016, according to the company’s annual statements, Interfax Ukraine reported.

    Gazprom has been supplying gas to the uncontrolled territory since February 2015 through gas metering stations in Prokhorovka and Platovo on the border …

  • Naftogaz files $236 million lawsuit against Ukraine’s government

    The gas company Naftogaz of Ukraine asked Kyiv Economic Court to recover compensation of more than 6.63 billion hryvnias ($ 236 million) from the Ukrainian government due to the losses the company allegedly suffered because of supplying the gas below the market prices, reports Ukrainski Novyny news agency citing.

    According to the news agency, the company filed a lawsuit in October this year. Naftogaz accused the Ukrainian government of inaction, which “consists of the uncertainty in …

  • Naftogaz claims Gazprom owes Ukraine more than $12 billion

    Naftogaz of Ukraine’s new claims against Russian Gazprom under the Stockholm arbitration increased within four months, from $11.6 billion to over $12 billion, reported Interfax, citing Naftogaz CEO Yuriy Vitrenko.

    “We shall recover all the money from Gazprom according to the previous decisions of the arbitration court. We have already recovered $2.1 billion in gas and $18 million in cash. We will also collect the remaining $2.6 billion,” emphasized Vitrenko.

    On June 6, 2018,  Naftogaz filed a …

  • Ukrainian Naftogaz recovered first millions from Gazprom

    Naftogaz is holding $9 million of the debt owed by Russian company Gazprom, based on the decision of the Stockholm arbitration, reported the press service for Naftogaz.

    The company reminded that the Stockholm arbitration formula for gas pricing was changed, which resulted in lower service rates and general transit cost.

    Naftogaz was clarified that Gazprom deliberately refuses to implement the decision of the arbitration and continues to pay the price set by Naftogaz.

    “Thus, Naftogaz has …

  • Naftogaz: Gazprom owes Ukraine more than $2.6 billion

    The fine for the Russian Gazprom for failure to comply to the Stockholm decision in the case against Naftogaz Ukraine, has reached $110 million,  stated at a press conference the Director for Business Development at the National joint-stock company Naftogaz of Ukraine Yuriy Vitrenko, reports Ukrinform.

    “By our calculations, the amount for compensation that Gazprom needs to pay us, already exceeds $110 million,” stated Vitrenko. Therefore, Gazprom must pay Ukraine more than $2.6 billion,"  …