Gazprom will still get a fine of 2,5 billion dollars

The current agreement on gas transit through Ukraine expires in less than two and a half months. One of the fundamental requirements of Gazprom to conclude a new one is to write off all debts, in particular, the fine of 2,56 billion dollars awarded to Naftogaz by the Stockholm arbitration. And just with this, the domestic monopolist is planning big problems.




As you know, in February last year, a Swedish court ruled in favor of the Ukrainian side, partially satisfying the claims of Naftogaz. Gazprom lawyers were able to suspend the execution of the arbitral award by appealing to a higher court in the Svea district. Despite this, the Ukrainian company started asking the price of Russian foreign assets, intending to recover a multibillion-dollar fine from them.

And so, very soon in this story can be put an end. Two days ago, the appellate court completed the examination of the merits and took a pause to reach a decision. It will be announced on November 27th. Unfortunately, there is a high probability that it will not be in Russia's favor.

At first, judicial practice shows that the supervisory authority cancels decisions of the subordinate in only 3% of cases. This, to say the least, is not impressive.

Secondly, the European Court has consistently demonstrated politicization and bias in relation to one of the parties, ours.

As you know, gas relations with Ukraine have two components: transit to the EU through its gas transportation system and supplies to the Ukrainian domestic market. For some reason, noble Swedish referees freed Naftogaz for the period from 2014 to 2017 from the take-and-pay principle. The Russian side on the issue of transit in Stockholm reacted somewhat differently, says energy expert Sergei Pravosudov:

With regard to transit, there was a figure in terms of volume, to which the parties are striving, but there were no strict requirements to pump this volume. And there was no strict condition that Gazprom compensates for the difference, if the volume is not pumped.


The result of such selective “justice” was a fine of $ 2,56 billion, issued to Gazprom. The leadership of the Russian company is brave, hoping to resolve the issue by mutual cancellation of debts or other netting with Naftogaz, but the likelihood of such a scenario is not too high.

Washington needs to disrupt Gazprom’s supplies to Europe. Kiev needs money and the signing of a transit agreement on its terms. The Russian gas monopolist dreams of writing off debts on a fine of the Stockholm arbitration, preferably before a decision of the appellate court is made. What will happen if it does not take place in favor of Gazprom, Sergey Pravosudov explains:

If all decisions are in favor of Naftogaz, then where to go? Gazprom will pay.


$ 2,56 billion is a lot of money even for a company with state participation, which could negatively affect the pipeline projects it implements and weaken the negotiating position on transit through Ukraine. In addition, such losses will have to be compensated by someone by raising gas tariffs.

There remains the last hope to recoup on the Supreme Court of Sweden. Pretty ghostly.
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  1. gorenina91 Offline
    gorenina91 (Irina) 19 October 2019 11: 34
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    - Ha ... and who would have thought ...
    - Yes, I personally wrote about this for a long time ... and more than once ... - Of course, Gazprom will pay for everything ... - and more than once ... - Alas ...
    1. you Offline
      you (in) 19 October 2019 21: 49
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      Why should GAZprom obey the court of a Russophobic hostile country? Why not sue Chinese arbitration? In any case, the bander must be sent by the forest, they must Russia 3 mrd taken by Yanuk.
      1. sgrabik Offline
        sgrabik (Sergei) 20 October 2019 17: 56
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        Yes, there already only one percent to half a billion came in, so already Ukraine owes Russia, taking into account the interest of 3,5 billion dollars, even the High Court of London fully recognized it, let us begin to act harder and knock out these overdue debt obligations from Ukraine , do not be shy and sit back, hoping that Kiev will suddenly take it and change its mind.
  2. krasstar Offline
    krasstar (Igor) 19 October 2019 12: 31
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    Well, a very effective (rather EFFECTIVE) Gazprom company! A very effective top manager Miller with a very immodest salary - will he pay off his debts from his own? And, of course, the very spectacular foreign economic work of the Government! Now it’s clear that this is all the government of DB!
  3. steelmaker Online
    steelmaker 19 October 2019 14: 45
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    We have a lot of talkative people. Now they will tell us what they will talk to them about. Without drastic measures, talking to them is useless. But we have trade with Ukraine plus $ 4 billion, as one talkative wrote here. Well, talkative, will we continue to trade with Bendera?
  4. Sapsan136 Offline
    Sapsan136 (Sapsan136) 19 October 2019 15: 46
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    Firstly, trade is a voluntary matter, and it is time to complete ALL relations with Bandera, in principle, up to a complete embargo ... Secondly, Russia has enough property of foreign states to seize it as compensation for stolen in the West from Russia. A tough hand is needed here, but Putin doesn’t have one, he only in his country can raise the retirement age and arrange other problems for the local population, before the West he is like a whipping boy.
  5. Oleg Kalugin Offline
    Oleg Kalugin (Oleg Kalugin) 19 October 2019 16: 52
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    Gazprom capitalists and talented managers screwed up from there again ... the hand of the market decides everything ... I am pleased with one thing, I have no gas!
    1. sgrabik Offline
      sgrabik (Sergei) 20 October 2019 18: 01
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      In Gazprom, managers are not talented, they are super efficient, but this so-called super efficiency is manifested mainly only in their personal interests. The interests of the country and its people somehow significantly less concern them than their own.
  6. Petrol cutter Offline
    Petrol cutter (Vitali) 19 October 2019 17: 00
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    Yes, at least three. This makes me neither warm nor cold. Tariffs are rising anyway ...
  7. Victor N Offline
    Victor N (Victor n) 19 October 2019 17: 45
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    According to the comments: we have a complete predominance of those rejoicing in the hardships of Russia.
  8. The comment was deleted.
  9. Marzhecki Offline
    Marzhecki (Sergei) 20 October 2019 07: 44
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    Quote: you
    Why should GAZprom obey the court of a Russophobic hostile country? Why not sue Chinese arbitration? In any case, the bander must be sent by the forest, they must Russia 3 mrd taken by Yanuk.

    Perhaps because he himself agreed to participate in it? He was not dragged there by force. And secondly, Gazprom’s assets are not in China, but in Russophobic Europe, if that. You can arrest them and collect a debt at their expense.
  10. Screw Offline
    Screw (Gennady) 20 October 2019 08: 34
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    When, to whom and how much to give? And will the decision of the Swedish court accelerate catastrophically the collapse of W.?
  11. riwas Offline
    riwas (riwas) 20 October 2019 08: 55
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    In an extreme case, Gazprom needs to buy Ukraine’s debt from Russia and settle accounts.
    1. sgrabik Offline
      sgrabik (Sergei) 20 October 2019 18: 09
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      This is one of the most acceptable options, because Russia has not been able to claim the debt of $ 3 billion from Kiev for more than six years, more than $ 500 million has already earned some percent. This issue should not be hushed up, but urgently raised before the European and Western international judicial bodies.
  12. steelmaker Online
    steelmaker 20 October 2019 12: 08
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    One talkative here believes that emotions in politics are not acceptable. Maybe, depending on what case, but you need to respect yourself?

    .... without respect, life is nothing, water is empty on an empty stomach.

    Ahead is winter, and there is an opportunity to put everything in its place. Of course, if our rulers respect not only themselves and $, but also their state - RUSSIA. Although the word "respect" is not for our rulers.

    ... life without a coat of arms and without a flag,
    it's life without brakes and
    without thresholds on the way
    the ultimate goal is not found.
  13. Dzafdet Offline
    Dzafdet (Sergei) 20 October 2019 19: 06
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    Ukraine returned a loan of three billion to us? Not! So send them to the forest. And no gas to them and coal. And electricity. Then they will quickly sing in a different way. Plus, collect money for the gas that they stole before 2014.
  14. Sergey Latyshev Offline
    Sergey Latyshev (Serge) 20 October 2019 20: 42
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    Ha. Money doesn't smell. The fine, like a state-owned corporation, will fall on the Russian Federation, and the bosses will receive the "golden" prizes independently from the proceeds ....
    In the news - only Gazprom is being sued ... On the contrary, it is very rare ...
  15. Nikolay_a_m Offline
    Nikolay_a_m (Nikolai) 21 October 2019 14: 21
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    I'm wondering how an amateur
    1) Does the non-delivery of gas to Europe through Ukraine, against the background of the end of the contract, under unforeseen circumstances.
    2) Is the loss of $ 2,5 billion worth cutting off Ukraine and interested countries as a transit supplier.
  16. 123 Offline
    123 (123) 23 October 2019 01: 38
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    And so, very soon in this story can be put an end. Two days ago, the appellate court completed the examination of the merits and took a pause to reach a decision. It will be announced on November 27th.

    There remains the last hope to recoup on the Supreme Court of Sweden. Pretty ghostly.

    In two paragraphs, the author contradicts himself. How can one "end" November 27, if there is still a Supreme Court? What does it look like? Gazprom lawyers received a court decision that does not suit them, appealed it to the appellate court, now (if) they are refused, they will sit, scratch their heads and say - but let's not appeal again, but to hell with them, think about 2,6 billion .. pay, just ask, and all things. recourse Is he representing lawyers and the leadership of Gazprom? sad

    $ 2,56 billion is a lot of money even for a company with state participation, which could negatively affect the pipeline projects it implements and weaken the negotiating position on transit through Ukraine.

    Interestingly, how can this negatively affect pipeline projects? Does Gazprom have enough money for completion? Really? lol They’ll take it right and don’t finish building it? laughing And how will this weaken the position in the negotiations on transit through Ukraine? Gazprom will agree with all the conditions of Ukraine? Or are they going to sue again?

    In addition, such losses will have to be compensated by someone by raising gas tariffs.

    Does the author see no other way? He does not imagine that the company's profit will simply decrease? Maybe give an example of such a solution? It is not the first time that companies lose courts.
    In addition, the competence of "expert in the field of energy" Sergei Pravosudov is questionable.
    In general, I looked who it is. If this is the same expert, then I'm a ballerina.
    Pravosudov Sergey Aleksandrovich - General Director of the Institute of National Energy. Biography link:

    http://nazenergy.ru/?page_id=249

    Educated as a teacher and manager, worked as a journalist, from 2004 to 2006. He worked as the chief editor of the corporate magazine Gazprom. These two years and made him an expert? belay It's enough? request Maybe I, too, should open an “institute”, no — better an academy, I’ll be the general director, I’ll order business cards, a beautiful secretary will be in charge. repeat
  17. 123 Offline
    123 (123) 23 October 2019 01: 59
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    PS As for the Arbitration Court itself, then they face a complex, one can say fateful decision. If, nevertheless, the decision is not in favor of Gazprom, this will inflict enormous damage on the reputation and authority of the court. Tea, we don’t live in the forest, everyone sees everything. If the decision to pay 2,6 billion is made in favor of one of the parties with the wording "they have a difficult economic situation," they say, you see, people with money are bad, give it back. What do you feel sorry for? After such a decision, Russia is unlikely to conclude deals in the future, providing for the resolution of controversial issues in Stockholm. And I think it’s not only Russia, because it turns out that any company can be in place of Gazprom. And who could be next? I bet on China.