The amount of Gazprom's claims against Naftogaz in the Stockholm arbitration increased from $50 to $80 billion
The total amount of claims of the Russian Gazprom against NJSC Naftogaz of Ukraine in the Stockholm arbitration is approximately $50 billion and could increase by 30 billion to $80 billion.
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This was announced by Chief Commercial Director of Naftogaz Yuriy Vitrenko during an online interview with Novoye Vremya.
“Their (Gazprom’s – Ed.) main requirement is the so-called take or pay. The contract does specify certain minimum volumes of gas... But on our part there are specific arguments that the same contract contains a certain mechanism for reducing these volumes annually on a “take or pay” basis. We also refer to competition law,” he said.
According to him, there are other legal arguments why this principle should not be applied or at least should be revised in scope.
“If we talk about money, they are already demanding about $50 billion from us - this is what we had to pay and did not pay for the corresponding volumes of gas. If we look into the future, before the end of the contract, then it will be an additional approximately 30 billion dollars. That is, on their part, the total amount of claims is approximately 80 billion dollars.” , – added Yuri Vitrenko.
In turn, the amount of claims of NJSC Naftogaz of Ukraine against the Russian Gazprom in the Stockholm arbitration also amounts to about $50 billion.
We would also like to remind you that Naftogaz is awaiting a decision from the Stockholm Arbitration Court in a case that concerns a contract for the purchase and sale of gas in April 2017.
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