Contents tagged with Naftogaz

  • European Court of Justice rejects Naftogaz’s claim against the European Commission regarding Gazprom’s access to OPAL pipeline

    The European Court of Justice dismissed the claim of the Ukrainian state-owned company Naftogaz against the European Commission (EC). Naftogaz filed a lawsuit against the EC in March of last year in response to the EC’s decision to allow the Russia’s Gazprom additional transit volumes through the OPAL and Nord Stream pipelines. However, on March 9, the Court rejected Naftogaz’s claim against the EC.

    The EC made their decision to grant Gazprom additional access to the OPAL pipeline on October 28 …

  • Media: Ukraine's Naftogaz begins purchasing gas from Russian Gazprom

    National joint-stock company Naftogaz of Ukraine has started purchasing gas from Russian Gazprom since Wednesday, April 25, reports by the Ukrainski Novyny news agency, citing a source in the gas market.

    According to the source, the purchased gas is being transported through Sudzha station. The total volume of supplies is 21 million cubic meters.

    The import of gas from Russia to Ukraine was suspended on November 25, 2015. On March 1, Deputy Chairman of the Management Committee of Gazprom …

  • Russia's Gazprom begins termination of contracts with Ukraine's Naftogaz

    Gazprom was unable to reach an agreement with Naftogaz on gas transit through Ukraine and sent a request to the Stockholm Arbitration for termination of the existing gas transit and supply contracts.

    “Gazprom was ready to negotiate with Naftogaz of Ukraine on gas transit after 2019. However, Ukraine must justify the economic feasibility of transit through its territory,” said Gazprom's Deputy Chairman of the Board of Directors Alexey Miller.

    On February 28, the Stockholm Arbitration Court …

  • Ukraine intends to impose sanctions against companies participating in the construction of Nord Stream-2 pipeline

    International companies participating in the Nord Stream-2 gas pipeline project may not be allowed to run business in Ukraine, the Minister of Internal Affairs of Ukraine Arsen Avakov stated during his presentation at the 11th Forum on international security.

     “The French Company ENGIE is trying to build a gigantic power station in the Chernobyl area, and as my colleague-minister told me, is ‘a little bit’ involved in the construction of the Nord Stream. We don’t care whether it is ‘a little …

  • Media: Russia's Gazprom and Ukraine's Naftogaz negotiate new contract

    The newspaper Vedomosti has reported that Gazprom and Naftogaz Ukraine are discussing terms for a new gas transit contract through Ukraine to Europe. The newspaper cited two sources close to parties involved in the talks.

    According to the publication’s sources, the talks are about concluding a new contract in 2020. The question of the continuation of gas transit after 2019, said one of them, was raised at a meeting of representatives from both companies a few weeks ago.

    "The contacts …

  • Ukraine's Naftogaz starts debt recovery from Russia's Gazprom

    According to the Chief Commercial Officer of Naftogaz, Yuriy Vitrenko , Naftogaz of Ukraine has begun debt collection procedures aimed at recovering the funds which Gazprom has to pay to Naftogaz according to the decision the Stockholm Arbitration court.

    The day before the announcement, Vitrenko met with the EU Commissioner for Competition, Margrethe Vestager. He told her that Gazprom refuses to comply with the decisions of the arbitration court and, in particular, refuses to compensate …

  • Ukraine increases gas transit volumes

    In March, the volume of natural gas transported through the territory of Ukraine amounted to 8.1 billion cubic meters, an increase of 21.3% from the same period in 2017, Ukraine’s national gas and oil company Ukrtransgaz reported.

    Ukrtransgaz also reported that despite Russia’s systematic failure to ensure contract pressures in gas pipelines at the entrance to Ukraine’s gas transport system, the company fulfilled requests for gas transportation on time and in full. The average daily transit …

  • Russia's Gazprom prepares $4.7 billion for payment to Ukraine

    The Russian gas monopoly Gazprom, contrary to published reports concerning the sum decided upon by two arbitrations with Ukrainian Naftogaz in the amount of $2.56 billion, put aside in its accounts a reserve for the full amount of the fine on the transit contract with Ukrainian side.

    This was reported by Interfax news agency, citing the company’s statements. The document stated that the balance for fines and penalties for violation of the terms of contracts is recognized as 272.943 billion …

  • Ukraine accuses Russia's Gazprom of failure to pay the fine according to Stockholm arbitration ruling

    The sum that Gazprom is obligated to repay Naftogaz of Ukraine, according to the decision of the Stockholm Arbitration Court, is increasing by half a million dollars daily due to the accrual of fines. The money will be collected in the near future, Minister of Justice of Ukraine Pavlo Petrenko told journalists on Thursday.

    The Stockholm Arbitration Court ruled on the disputes between Gazprom and Naftogaz regarding contracts for the supply and transit of gas in December and February, …

  • Ukraine's Naftogaz threatens to seize Nord Stream 2 assets in Europe

    Yuriy Vitrenko, Director for Business Development for Naftogaz Ukraine, has said that the company may appeal to the Swiss court to arrest shares of Nord Stream AG and Nord Stream 2 AG in connection with the recovery of debt from Gazprom. The debt recovery was mandated as part of a decision by the Stockholm Arbitration Court.

    "For example, gas. If Gazprom's gas is stored in underground storage facilities in Europe, we can seize it. Or if gas is supplied to Europe, we can seize it too. Gazprom …