Contents tagged with Naftogaz
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Russian gas giant Gazprom offers Ukraine to forget the past and start from scratch
Russian gas giant Gazprom offered Ukrainian company Naftogaz to use a so-called "zero option" in terms of finances and verdicts of the Arbitration Institute of the Stockholm Chamber of Commerce.
"The zero option is the absence of mutual claims from the finance point of view," said Russian Energy Minister Alexander Novak as cited by RIA Novosti. Novak proposed this option at the end of the trilateral negotiations on gas in Brussels.
According to Novak, Russia believes that the relationship …
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Russia’s Gazprom and Ukraine’s Naftogaz prepare new lawsuits against each other
Russia’s gas monopoly Gazprom has initiated a new arbitration case against Naftogaz, since it lost the previous case. By the end of October, the Ukrainian company will present its counterclaims, Naftogaz executive officer Yuriy Vitrenko told UNN in a comment.
“Gazprom has initiated a new arbitration case after it lost the previous one. In the new arbitration case, Gazprom’s demands are essentially that they want to revoke the decision of the previous arbitration case – at least so that they do …
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Gazprom: Gas supply to Ukraine must be resolved before transit contract can be discussed
The Russian gas monopoly Gazprom said that before a new transit contract with Ukraine can be discussed, arrangements for supplying gas to Ukraine must be made.
During a meeting with Russian President Vladimir Putin, Gazprom CEO Alexey Miller said that “the matter of the transit contract is extremely important, but nevertheless the primary issue is whether or not Ukraine will buy Russian gas on a direct contract”.
According to Miller, this will determine the capacity that Gazprom should …
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Ukraine prepares the basis of a new gas contract with Russia
Deputy Minister for Foreign Affairs of Ukraine Olena Zerkal said that Ukrainian Ministry of Foreign Affairs is developing an Energy Memorandum, which should become the basis for further action to sign a new contract for the transit of Russian gas, reports BBC.
She said that the specialists of the Ministry have been working together with the representatives of the United States and Poland ahead the planned Ukrainian President Volodymyr Zelensky's visit to Warsaw in September 2019. According to …
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European Commission steps in to save Russian gas transit through Ukraine
The European Commission has proposed a 10-year contract for the transit of Russian gas through Ukraine as of January 1, 2020. The initiative will be discussed during trilateral ministerial negotiations that the European regulator intends to hold on September 16, reports TASS news agency, citing a diplomatic source in Brussels.
The source claims that Maros Sefcovic, Vice President of the European Commission’s Energy Union, sent the relevant letter to Moscow and Kyiv last week. “Both parties …
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Ukrainian Naftogaz files $5.2 billion lawsuit against Russia in the Hague
Naftogaz of Ukraine and its constituent companies have filed a lawsuit against Russia at the Permanent Court of Arbitration in the Hague demanding compensation for the losses caused by the seizure of $5.2 billion of their assets in Crimea, Naftogaz announced in a statement.
The Naftogaz Group has asked the court to obligate Russia to pay back this amount. The court is expected to make a decision concerning the compensation amount no earlier than the end of 2020.
The court has already …
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Gazprom loses appeal in case against Ukraine's Naftogaz
Amsterdam Court of Appeal rejected Gazprom's complaint concerning the jurisdiction of the court, thereby upholding its authority in the case of recognition and enforcement of the decision of the Stockholm Arbitration in the Netherlands.
"Such a decision was issued by the court on July 8. Moreover, on the same day, the Luxembourg district court ruled in Naftogaz favor. It declined Gazprom's objection, thereby confirming legality of seizure of Russian company’s property in Luxembourg’s territory …
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Gazprom offers to settle $2.6 billion dispute with Naftogaz of Ukraine
The Russian state-controlled gas monopoly Gazprom has offered to sign a settlement agreement with the Ukrainian oil and gas company Naftogaz in order to resolve a long-standing dispute, Russian Energy Minister Alexander Novak told the press.
In February 2018, the Stockholm Arbitration Institute ordered Gazprom to pay Naftogaz $4.63 billion for failing to supply the volumes of gas stipulated in their transit agreement. Since previously the arbitrators had ordered Kyiv to pay Gazprom $2 billion …
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Gazprom capitulates in gas dispute with Ukraine
A gas dispute between Russia and Ukraine, which began with a record drop in prices in 2013 and translated into a reduction and later suspension of supply, will apparently finally end with Gazprom capitulating.
The Russian gas monopoly is offering to negotiate a deal to resume the direct gas supply to Kyiv, and to extend the contract for transit to Europe that expires in 2019, said Gazprom CEO Alexey Miller.
The gas prices will be lower, he promised: the cost of gas for the end consumer will …
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Zelensky and Naftogaz CEO discuss LNG deal with US energy secretary
Ukrainian President Volodymyr Zelensky and Naftogaz CEO Andriy Kobolyev met on 20 May with US Energy Secretary Rick Perry to discuss possible shipments of American Liquefied Natural Gas (LNG) to Ukraine, Naftogaz announced on its official website.
“During the meeting, special attention was devoted to ways to prepare Ukraine to pass the next autumn-winter heating season, and to finance and develop adequate gas reserves in underground reservoirs. Another topic of discussion was the project to …