Naftogaz of Ukraine owes Gazprom $2 billion
The Stockholm Arbitration ordered NJSC Naftogaz of Ukraine to pay Gazprom more than $2 billion for the gas supplied, a PolitNavigator correspondent reports.
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This was announced by Gazprom, the press service of the Russian monopolist reports.
The total amount consists of overdue debt for gas supplies in the amount of $2,019 billion, as well as interest from December 22, 2017 to the date of such payment in the amount of 0,03% for each day of delay.
The court also ordered Naftogaz to select and pay for 2018 billion cubic meters annually starting from 5. m of gas.
The court denied Naftogaz the right to review gas prices for the period from May 2011 to April 2014 and to recover overpayments for gas for the period from May 2011 to April 26, 2014 in the amount of about $14 billion, Gazprom claims. .
According to the Russian side, neither European nor Ukrainian antitrust laws should apply to the contract and it is mandatory to apply the “take-or-pay” provisions until the end of the contract.
“The arbitrators recognized the main provisions of the contract as valid and satisfied most of Gazprom’s demands for payment for the supplied gas,” comments the Russian company.
As you know, the Stockholm Arbitration Court has begun hearings on a dispute between the Ukrainian company Naftogaz of Ukraine and the Russian gas monopolist Gazprom regarding the terms of the contract for the supply of gas from Russia to Ukraine since 2009.
These hearings are being held because the parties were unable to reach an agreement on the implementation of the interim decision made by the arbitration tribunal in May this year.
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