Contents tagged with Naftogaz

  • Ukraine and Russia discuss settling $3 billion arbitration dispute using gas

    Ukraine and Russia are discussing the possibility of Gazprom paying the $3 billion owed by it according to the Stockholm Arbitration Institute’s ruling using gas, said Naftogaz executive director Yuriy Vitrenko in a broadcast of Radio NV.

    “[Russian Energy] Minister Novak, who was at the talks, admitted that they are discussing the matter of implementing the arbitration ruling by supplying the corresponding amount of gas. We see some progress in the public statements. We’re talking about $3 …

  • Kyiv demands seizure of Gazprom’s assets in Latvia

    According to Gazprom's reports, Naftogaz of Ukraine filed a motion to the Latvian court to enforce the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in the case against the Russian gas giant Gazprom. The company is determined to recover $3 billion from the Russian gas giant.

    According to Gazprom, the court hearing on this claim is scheduled for the end of April 2020. At the moment, the company is considering ways to protect its interests.

    "On November 5, 2019 …

  • Naftogaz director on Nord Stream 2: Germany facilitating economic strangulation of Ukraine

    Naftogaz group executive director Yuriy Vitrenko believes that by participating in Russia’s Nord Stream 2 project, Germany is facilitating the economic strangulation of Ukraine and creating threats to the stability of the gas supply to Eastern Europe.

    He explained his view to Deutsche Welle in an interview when asked whether Germany will be taking away Ukraine’s role as the primary transiter of Russian gas to Europe.

    “It’s not taking over the role of primary transiter, it’s that there won’t …

  • Ukraine and Russia hold bilateral gas talks

    Russia and Ukraine conducted bilateral gas negotiations in Vienna on November 28, the Russian media reported, citing the Russian Ministry of Energy.

    The consultations were reportedly attended by Russian Energy Minister Alexander Novak, Gazprom CEO Alexey Miller, Ukrainian Minister of Energy and Environmental Protection Oleksiy Orzhel, and the directors of Naftogaz of Ukraine and the Operator of the Gas Transport System of Ukraine.

    “The parties discussed Russian-Ukrainian collaboration in the …

  • Russia's Gazprom warns Ukraine that it will ‘shut off the gas pipe’ on January 1

    Naftogaz executive director Yuriy Vitrenko said that the company has already received a warning from Gazprom that, without a new gas transit contract, it will stop supplying gas to Ukraine’s gas transportation system (GTS).

    “In a letter which Gazprom sent to Naftogaz it is written in black and white that on January 1 at 10:00 Moscow time (09:00 Kyiv time) Gazprom will have no reason send gas to Ukraine,” Vitrenko told Deutsche Welle in an interview. He explained that, in saying this, Gazprom …

  • Ukraine willing to accept gas in lieu of Gazprom’s $3 billion debt

    Naftogaz of Ukraine has responded to Gazprom’s official one-year gas transit proposal, Yuriy Vitrenko, executive director of the Naftogaz group, wrote on Facebook.

    He effectively confirmed that Ukraine finds the proposal unacceptable, and pointed out that “Gazprom has every opportunity to sign a new long-term contract for gas transit through Ukraine” according to European regulations. Ukraine is hoping that Russia will reserve transit capacity for 10 years.

    Vitrenko remarked that even if it …

  • Berlin: gas transit through Ukraine should continue after 2019

    German Foreign Minister Heiko Maas said that Germany believes that the transit of Russian gas through the territory of Ukraine should continue after 2019, reports Interfax-Ukraine.

    During a joint briefing with Ukrainian Foreign Minister Vadym Prystaiko in Kyiv, Maas said that "we [Germany] support negotiations on gas transit through Ukraine. We believe that transit should continue after 2019."

    Maas stressed that he wants to dispel certain speculations around the "gas" topic that have recently …

  • Gazprom officially offers Ukraine one-year gas transit contract

    On Monday, Gazprom sent Naftogaz of Ukraine an official offer to extend the current gas transit contract by one year or to sign a new one-year contract, Interfax reports.

    As a precondition, all lawsuits and claims in international arbitration courts must be withdrawn.

    This would also include the withdrawal of the Ukrainian Anti-Monopoly Committee’s fine against Gazprom for economic competition violations and of Naftogaz’s motion to have the European Commission investigate the Russian company. …

  • Russian Gazprom cancels eurobond placement due to Ukraine's lawsuit

    The Kremlin’s gas strategy in the last few years, designed to deprive Ukraine of revenue from gas transit to Europe by replacing the Ukrainian gas transport system with the Nord Stream 2 and Turkish Stream pipelines, appears to be backfiring on Gazprom.

    Already faced with a legislative ban on utilizing more than half of Nord Stream 2’s capacity, and having lost one third of Nord Stream 1’s capacity due to a ruling by the European Court of Justice, the Russian gas company has now sustained …

  • Ukraine’s Naftogaz strikes again at Gazprom

    Naftogaz of Ukraine has managed to have the accounts of GazAsia Capital S.A., the company that placed Gazprom’s yen-denominated eurobonds, frozen, Interfax reports, citing a memorandum on the Russian company’s new eurobond placements.

    GazAsia Capital S.A. is an SPV company, created for a specific purpose. Through it, Gazprom placed 10-year bonds for 65 billion yen (approximately $595 million) in December last year. Now, GazAsia does not have the right to make payments to Gazprom, Lenta.ru …