Contents tagged with Gazprom
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Ukrainian President: Ukraine's Naftogaz must have Gazprom’s assets seized if it does not pay according to Stockholm arbitration ruling
If the Russian company Gazprom does not pay Ukraine as per the Stockholm arbitration court’s ruling, Naftogaz Ukraine must have Gazprom’s assets seized, Ukrainian President Petro Poroshenko said during a session of the National Security and Defense Council in Kyiv.
“It effectively means that Gazprom must pay Naftogaz just over two and a half billion dollars… If Gazprom does not pay as per the ruling of the Stockholm arbitration court – which it was supposed to start doing yesterday already – …
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Russia's Gazprom stops gas deliveries to Ukraine
Gazprom received a prepayment for Russian gas supplies in March 2018 from Naftogaz and returned them to the Ukrainian company, due to the absence of an amendment to the contract, Alexander Medvedev, Deputy Chairman of the Russian gas holding, told journalists.
"Gazprom has indeed received funds from Naftogaz of Ukraine to pay for March deliveries of gas. However, as they say, an egg is dearest at Easter. Today an additional agreement to the existing contract with the state-run JSC Naftogaz of …
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Ukraine’s Naftogaz announces victory over Russia’s Gazprom in transit case in Stockholm Arbitration
Naftogaz reported that it has successfully sued Gazprom for $4.63 billion in a transit dispute at an arbitration court in Stockholm. After deducting payment for already supplied gas, the Russian company must pay $2.56 billion.
The Arbitration Institute of the Stockholm Chamber of Commerce has partially complied with Naftogaz’s demands, ruling that Gazprom must pay Naftogaz $4.63 billion for its under-delivery according to the transit agreement.
“Naftogaz was awarded damages of USD 4.63 …
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Russian Gazprom stops charging Ukraine for gas supplies to separatist DPR and LPR
At the 2018 Ukrainian Energy Forum in Kyiv, Yuriy Vitrenko, Chief Commercial Officer of Naftogaz Ukraine, has announced that Russian conglomerate Gazprom has stopped invoicing Naftogaz Ukraine for gas supplies sent to self-proclaimed Donetsk and Luhansk People's Republics (DPR and LPR) , Interfax reported.
According to Vitrenko, Gazprom did not bill Naftogaz for the entire period of 2017, nor the beginning of 2018.
Gazprom CEO Alexey Miller said that between January 2015 and June 2017, the …
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Russian Gazpom to dispute gas price with largest European buyer
Gazprom Export intends litigate in Stockholm with the German company Uniper, its largest Europen gas client. Gazprom’s trading division notified Uniper that an arbitration procedure would be initiated, with the demand to revise the gas price according to the contract starting on February 1, 2018. “Approaching arbitration to resolve a contract dispute is a standard practice, envisaged by such contracts,” reads Gazprom’s statement, as quoted by RBC news agency.
The official Gazprom Export …
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Naftogaz: decision of Stockholm arbitration court on Gazprom case reduces the price of Russian gas delivered to Ukraine
The decision of the Stockholm Arbitration reduces the price of Russian gas for Naftogaz of Ukraine by $ 20 to $50 per thousand cubic meters, in comparison with the old formula price, as stated by the chief commercial director of Naftogaz, Yuriy Vitrenko on ICTV channel
“A price under the new contract will be significantly lower than the old formula price. Now the difference is about 20$. However, this amount will fluctuate depending on the season, for example, in the second quarter the …
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Gazprom compares the volume of US LNG supplies to Europe with drips of coffee
At a meeting with investors in New York, Gazprom stated that supplies of American liquefied natural gas (LNG) to the European market are just a few drops in the background when compared to the volumes of natural resources supplied through pipelines by the Russian company.
The company illustrated this idea in the form of an infographic. The infographic depicted a full cup of coffee on one side – representing Gazprom’s estimates of its own deliveries – and, on the other side, a magnifying glass …
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Ukrainian Naftogaz and Russia’s Gazprom to begin negotiations on gas delivery to Ukraine
According to the Chief Commercial Officer of Naftogaz, Yuriy Vitrenko, Naftogaz of Ukraine and Gazprom will soon start negotiations on the implementation of the Stockholm Arbitration Court decisions within the contract of purchase of Russian gas, UNIAN reports.
"Negotiations will start in the coming days. We won’t disclose the details. It’s about the implementation of the final decision on the gas contract,” he said.
Vitrenko noted that according to the Stockholm Arbitration Court decision, …
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Naftogaz: Russia's Gazprom will pay Ukraine 3 times more 'than it can receive for the sale of its gas'
Gazprom will pay Ukraine 2-3 times more "than it can receive for the sale of its gas," to transport it through Ukraine, according to a Facebook post made by the Chief Commercial Officer (CCO) of Naftogaz, Yuriy Vitrenko, UNIAN reports.
Vitrenko reported that the price of gas for Ukraine will be calculated according to the German market. "For those who like to count who and how much will be paid, Gazprom pays us 2-3 times more for transit than it will be able to receive for selling its gas," he …
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Poroshenko congratulates Ukrainians on the victory over Russia's Gazprom
The decision of the Stockholm Arbitration Court on the dispute between Naftogaz of Ukraine and Gazprom is "a historic victory", said Ukrainian President Petro Poroshenko, according to the Presidential press service. The outcome of the trial is of "the utmost importance" with regard to the country's national security, the president said. "If there had been a loss in this court, Ukraine would face a direct threat of default," Poroshenko stressed during a meeting with the head of Naftogaz, Andriy …