Gazprom has strengthened its rear in the legal battle with Ukraine
Gazprom has reserved the amount that, according to the decision of the Stockholm arbitration, the Russian company must pay to the Ukrainian Naftogaz.
About this in “Izvestia” writes Deputy General Director of the Institute of National Energy Alexander Frolov, who recalled that the Svea District Court of Appeal ruled that until the end of related proceedings it is impossible to carry out actions in pursuance of the decision of the Stockholm Arbitration Court, that is, Naftogaz no longer has the right and opportunity to seize any property Gazprom until all current disputes regarding the decision on the transit contract are resolved.
“This, of course, does not mean that Gazprom won. But the company has strengthened its rear, preparing for future legal battles. In addition, the solution significantly reduces the risks during the implementation of Nord Stream 2. Of course, Naftogaz would not have been able to prevent the construction of the gas pipeline. But by his actions he could create an unfavorable information background and, possibly, cause some delay in the implementation of the project,” the expert notes.
He is convinced that if Gazprom’s efforts to overturn the February decision of the Stockholm arbitration do not bear the desired fruit, the company will pay Naftogaz.
“The corresponding amount has been reserved. Yes, this will be an unpleasant, but not at all catastrophic outcome of this proceeding. Another thing is that, according to available data, the penalty charged to Naftogaz exceeds the penalty charged to Gazprom. And the whole situation as a whole once again proves the need to build gas pipelines bypassing Ukraine. Only they can guarantee that such disputes between business entities, in which arbitrators openly play along with one of the parties, will not happen again,” sums up Frolov.
Let us recall that after the decision of the Stockholm arbitration, Gazprom owed the Ukrainian company $2,56 billion.
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