Contents tagged with Naftogaz

  • Russia’s Gazprom and Ukraine’s Naftogaz prepare new lawsuits against each other

    Russia’s gas monopoly Gazprom has initiated a new arbitration case against Naftogaz, since it lost the previous case. By the end of October, the Ukrainian company will present its counterclaims, Naftogaz executive officer Yuriy Vitrenko told UNN in a comment.

    “Gazprom has initiated a new arbitration case after it lost the previous one. In the new arbitration case, Gazprom’s demands are essentially that they want to revoke the decision of the previous arbitration case – at least so that they do …

  • Gazprom: Gas supply to Ukraine must be resolved before transit contract can be discussed

    The Russian gas monopoly Gazprom said that before a new transit contract with Ukraine can be discussed, arrangements for supplying gas to Ukraine must be made.

    During a meeting with Russian President Vladimir Putin, Gazprom CEO Alexey Miller said that “the matter of the transit contract is extremely important, but nevertheless the primary issue is whether or not Ukraine will buy Russian gas on a direct contract”.

    According to Miller, this will determine the capacity that Gazprom should …

  • Ukraine prepares the basis of a new gas contract with Russia

    Deputy Minister for Foreign Affairs of Ukraine Olena Zerkal said that Ukrainian Ministry of Foreign Affairs is developing an Energy Memorandum, which should become the basis for further action to sign a new contract for the transit of Russian gas, reports BBC.

    She said that the specialists of the Ministry have been working together with the representatives of the United States and Poland ahead the planned Ukrainian President Volodymyr Zelensky's visit to Warsaw in September 2019. According to …

  • European Commission steps in to save Russian gas transit through Ukraine

    The European Commission has proposed a 10-year contract for the transit of Russian gas through Ukraine as of January 1, 2020. The initiative will be discussed during trilateral ministerial negotiations that the European regulator intends to hold on September 16, reports TASS news agency, citing a diplomatic source in Brussels.

    The source claims that Maros Sefcovic, Vice President of the European Commission’s Energy Union, sent the relevant letter to Moscow and Kyiv last week. “Both parties …

  • Ukrainian Naftogaz files $5.2 billion lawsuit against Russia in the Hague

    Naftogaz of Ukraine and its constituent companies have filed a lawsuit against Russia at the Permanent Court of Arbitration in the Hague demanding compensation for the losses caused by the seizure of $5.2 billion of their assets in Crimea, Naftogaz announced in a statement.

    The Naftogaz Group has asked the court to obligate Russia to pay back this amount. The court is expected to make a decision concerning the compensation amount no earlier than the end of 2020.

    The court has already …

  • Gazprom loses appeal in case against Ukraine's Naftogaz

    Amsterdam Court of Appeal rejected Gazprom's complaint concerning the jurisdiction of the court, thereby upholding its authority in the case of recognition and enforcement of the decision of the Stockholm Arbitration in the Netherlands.

    "Such a decision was issued by the court on July 8. Moreover, on the same day, the Luxembourg district court ruled in Naftogaz favor. It declined Gazprom's objection, thereby confirming legality of seizure of Russian company’s property in Luxembourg’s territory …

  • Gazprom offers to settle $2.6 billion dispute with Naftogaz of Ukraine

    The Russian state-controlled gas monopoly Gazprom has offered to sign a settlement agreement with the Ukrainian oil and gas company Naftogaz in order to resolve a long-standing dispute, Russian Energy Minister Alexander Novak told the press.

    In February 2018, the Stockholm Arbitration Institute ordered Gazprom to pay Naftogaz $4.63 billion for failing to supply the volumes of gas stipulated in their transit agreement. Since previously the arbitrators had ordered Kyiv to pay Gazprom $2 billion …

  • Gazprom capitulates in gas dispute with Ukraine

    A gas dispute between Russia and Ukraine, which began with a record drop in prices in 2013 and translated into a reduction and later suspension of supply, will apparently finally end with Gazprom capitulating.

    The Russian gas monopoly is offering to negotiate a deal to resume the direct gas supply to Kyiv, and to extend the contract for transit to Europe that expires in 2019, said Gazprom CEO Alexey Miller.

    The gas prices will be lower, he promised: the cost of gas for the end consumer will …

  • Zelensky and Naftogaz CEO discuss LNG deal with US energy secretary

    Ukrainian President Volodymyr Zelensky and Naftogaz CEO Andriy Kobolyev met on 20 May with US Energy Secretary Rick Perry to discuss possible shipments of American Liquefied Natural Gas (LNG) to Ukraine, Naftogaz announced on its official website.

    “During the meeting, special attention was devoted to ways to prepare Ukraine to pass the next autumn-winter heating season, and to finance and develop adequate gas reserves in underground reservoirs. Another topic of discussion was the project to …

  • Ukraine meets with US officials to discuss LNG shipments

    Ukrainian Deputy Foreign Minister Olena Zerkal and representatives of Naftogaz of Ukraine have attended a number of official meetings in the US to discuss the purchase of American liquefied natural gas (LNG), how to oppose the Nord Stream 2 gas pipeline project, and concessions for the Ukrainian gas transport system, Naftogaz CEO Andriy Kobolyev announced in a post on Facebook.

    “At meetings with the US Department of State and Department of Energy, we spoke, among other things, about how to …