National joint-stock company Naftogaz of Ukraine has engaged the law firm of Covington and Burling LLP (New York, USA) to protect the company’s interest in litigation concerning lost shelf assets in the Crimea. According to an announcement in the Visnyk Derzhavnykh Zakupivel public procurements bulletin, the gas transportation company signed a one-year agreement with the law firm on January 1st, 2016.
The cost of the agreement is $1.25 million (value added tax not included). “The services that will be provided include; representation for the protection of the rights and interests of Ukraine during disputes regarding the loss or the inability to use the assets of Naftogaz of Ukraine, the inability to obtain revenue in Crimea and Sevastopol, the use of internal seawaters and the territorial sea of Ukraine surrounding the Crimean peninsula and the use of the exclusive economic zone of Ukraine along the coast of the Crimean peninsula including the continental shelf near the coast,“ the company said.
Earlier, Naftogaz stated that the company will seek to regain control over its assets that were lost due to the occupation of Crimea by Russia through international courts and will also seek reimbursement for all incurred losses.