Contents tagged with Naftogaz
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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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Head of Naftogaz: Ukraine is mandated to buy Russian gas
The purchase of Russian gas is beneficial from the point of view of commercial logic, since the court set the price of gas purchases below European market value, stated Andriy Kobolyev, the chairman of the board of Naftogaz of Ukraine on Channel 5 TV.
Kobolyev said, “We have completely annulled $56 billion and this cancellation was not for nothing. The court believes that the contract still exists. Half of the import needs is exactly the balance between Russia and Europe with the line between …
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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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Kolomoyskyi’s claims against Ukraine in the Ukrnafta case reach $5.4 billion
The claims of Ukrnafta's minority shareholders controlled by Ihor Kolomoyskyi against Ukraine increased to $5.4 billion, according to Interfax-Ukraine with reference to the data of the Ministry of Justice published in Prozorro.
In September 2017, in the prospectus of Eurobonds of Ukraine, it was stated that claims of minority shareholders in accordance with the suit filed with the Arbitration Institute of the Stockholm Chamber of Commerce against Ukraine amounted to $4.7 billion. The …
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Poroshenko: Ukraine will buy Russian gas on its own terms
President Petro Poroshenko has said that Ukraine is ready to resume gas purchases from Russia.
"What has happened in the past two years? We are energetically independent. They [Russia] are knocking: can you take our gas? No, we are all right. If it is cheap and honest, not corrupt, [then] please," he said during a working trip to the Odessa region, writes Interfax-Ukraine.
At the same time, Poroshenko stressed that, with respect for the above-mentioned conditions, the Ukrainian authorities …
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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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Naftogaz Chief: Nord Stream 2 is partially a military project
The CEO of Naftogaz of Ukraine, Andriy Kobolyev, said during a broadcast on Channel 5 that the company's task for 2018 is to halt the Nord Stream 2 project by reforming the Ukrainian gas transportation system (GTS).
"Indeed, this pipeline is a big risk, and its construction will fundamentally undermine the economy of the whole country. We believe that its construction is partly a military project, [and] that Putin's goal is to eliminate the transport of Russian gas from the territory of …
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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 …
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Naftogaz of Ukraine expects to receive up to $16 billion from Russian Gazprom
The national holding company Naftogaz of Ukraine expects to receive compensation in the sum of $6.5 billion to $16 billion from Russian Gazprom following the Stockholm Arbitration Court’s consideration of gas transit contracts, UNIAN reports citing the company's Chief Commercial Officer, Yuri Vitrenko, stated this.
"The amount of our claim will be between $6.5 and $16 billion, depending on whether Ukrainian legislation is applied," he said.
Vitrenko added that he anticipates the Stockholm …