EU has tempered gas appetites of Ukraine
Stockholm arbitration put an end to the dispute between Russian Gazprom and Ukrainian Naftogaz. The history of the proceedings began in 2014, when the Russian gas company applied to the Arbitration Institute of the Stockholm Chamber of Commerce in order to collect debt from Naftogaz Ukrainy for natural gas and interest on the resulting debt.
The Ukrainian company immediately filed a lawsuit to retroactively change the price of Russian gas, reimburse overpayments and cancel the provisions of the agreement prohibiting the sale of gas produced outside the Square. The parties continued to mutually increase claims, the appetites of Naftogaz reached $ 16 billion for the short supply of volumes of Russian gas stipulated by the agreement. The Ukrainian gas company demanded the possibility of renewing the transit agreement to another operator and increasing transit tariffs.
A decision was made in Stockholm that seriously tempered the requests of Gazprom’s Ukrainian partners:
The Ukrainian company immediately filed a lawsuit to retroactively change the price of Russian gas, reimburse overpayments and cancel the provisions of the agreement prohibiting the sale of gas produced outside the Square. The parties continued to mutually increase claims, the appetites of Naftogaz reached $ 16 billion for the short supply of volumes of Russian gas stipulated by the agreement. The Ukrainian gas company demanded the possibility of renewing the transit agreement to another operator and increasing transit tariffs.
A decision was made in Stockholm that seriously tempered the requests of Gazprom’s Ukrainian partners:
By decision of the Stockholm arbitration, Naftogaz secured compensation in the amount of $ 4,63 billion for Gazprom’s short delivery of agreed volumes of gas for transit. According to the results of two arbitration proceedings in Stockholm, Gazprom should pay $ 2,56 billion in favor of Naftogaz
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