Head of Naftogaz says Ukraine expects two final decisions in a dispute with Gazprom

The final computed amount of compensation in the dispute between Naftogaz and Gazprom will be known after the completion of the so-called “transit case.” The head of the NJSC Naftogaz of Ukraine, Andriy Kobolyev made the statement on "1 + 1" TV on the evening of June 4.

Kobolyev recalled that according to the decision of the arbitration tribunal under the auspices of the Arbitration Institute of the Stockholm Chamber of Commerce, Ukraine will pay nothing for gas that they did not take, despite Russia insisting on payment in accordance with the "take-or-pay" condition.

"We also managed to revise the price from 2014. This means that for the entire volume of gas that Naftogaz bought from that time on, Gazprom must compensate us a certain amount. According to my estimates, the final calculations of compensation will take two to three months," he added.

"We expect two final decisions: on the gas supply case for which there was the first separate decision, and on the "transit case" that was scheduled to be adopted by the end of June .We expect this [decision] to take longer, as the decision on the first case has dragged on," Kobolyev said.

He noted that it would be an “unprecedented case” should Gazprom refuse to comply with the arbitration ruling. "Secondly, Gazprom has many assets abroad that can be seized through other courts," the head of Naftogaz added.

Naftogaz received the decision of the Stockholm Arbitration in the case against Russian Gazprom under the gas supply contract. According to Kobolyev, the arbitration coutr completely rejected the demands of Gazprom under the "take-or-pay" condition.

Mutual claims of Gazprom and Naftogaz under the gas purchase and sale contract amount to about $45.7 billion and $17.9 billion, respectively, or $36.7 billion and $14 billion without interest.

  Naftogaz, Gazprom


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