Contents tagged with Naftogaz

  • 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,"  …

  • Gazprom loses appeal in court case with Ukraine's Naftogaz

    The Svea Court of Appeal has re-authorized the seizure of Gazprom’s assets in order to collect $2.6 billion in favor of Naftogaz Ukraine.

    On Thursday, the Swedish court removed the temporary suspension of the fine enforcement measures, which had been introduced in June at Gazprom’s request, Reuters reports.

    The Russian gas company asked to have the original ruling of the Stockholm Arbitration Institute revoked on the basis of external interference in the process. Citing a “world renowned …

  • Ukrainian President confident Russia will pay all damages for Ukraine's gas contract losses

    Ukrainian President Petro Poroshenko expressed confidence that Russia would pay for all damages regarding the gas contracts. According to him, Stockholm Arbitration Court estimated Kyiv’s losses from the termination of contracts at $4.6 billion, 112 Ukraine channel reports.

    Poroshenko also recalled that several days ago passed the thousandth day that Ukrainians have been living without Russian gas because of the embargo. “The Russians will not bring us to our knees with its gas ligature and …

  • Ukraine marks 1000 days without Russian gas

    Thursday, August 23, marks 1000 days since Ukraine imported the last batch of Russian gas, reports Ukrtransgaz, Ukrainian operator of the gas transit system.

    In late November 2015, Ukraine refused to purchase natural gas from Gazprom, as the Ukrainian gas company, Naftogaz considered this price too inflated. Import of gas is now carried out via western border.

    The rejection of Russian gas allowed Ukraine to begin reforming the gas market and reforming the corporate governance of Naftogaz. For …

  • Swedish appeals court upholds suspension of Stockholm arbitration ruling on Gazprom vs Naftogaz case

    The Swedish Svea Court of Appeal upheld its decision to suspend the February 28 ruling, which was made by the Stockholm arbitration court, concerning the gas transit contract dispute between Gazprom and Naftogaz.

    “Naftogaz tried to appeal this court order, but the court ruled that its arguments were insufficient,” Gazprom reported through its press service. “This circumstance strengthens Gazprom’s position for appealing attempts by Naftogaz to enforce the aforementioned arbitration ruling in …