Contents tagged with Naftogaz

  • Ukraine's Naftogaz to pay 41 employees $46 million in bonuses for the victory over Gazprom

    41 employees of Naftogaz will receive big bonuses for Naftogaz’s victory in a dispute with Gazprom. The decision was approved by Naftogaz’s supervisory board.

    The press service of the Ukrainian company said that the total amount of the bonus payment is $46.3 million, of which $9 million well be spent on income tax and other fees. This is 1% of the amount that Gazprom must pay to Naftogaz of Ukraine in accordance with the decision of the Stockholm Arbitration Institute that settled the gas …

  • Media: at Ukraine’s request shares of Nord Stream and Nord Stream-2 may be seized in European jurisdictions

    Naftogaz of Ukraine has begun the process of recovery in the courts of the $2.6 billion debt of Russia’s gas conglomerate Gazprom in compliance with the decision of the Arbitration Institute of the Stockholm Chamber of Commerce, Interfax-Ukraine reports with reference to a source in the government.

    It is noted that the legal process has been initiated in Switzerland, the Netherlands and the United Kingdom under article 5 of the New York Convention on the Recognition and Enforcement of Foreign …

  • Russia's Gazprom requests reversal of Stockholm Arbitration Court decision regarding Ukraine's Naftogaz dispute

    On Monday, May 28, Gazprom sent an appeal to the Svea Court of Appeal in Stockholm for a full reversal of the Stockholm Arbitration Court’s earlier decision regarding the transit contract dispute between Gazprom and Naftogaz Ukraine.

    Gazprom said that an unauthorized person intervened in the Stockholm Arbitration Court’s verdict process, which decided that the Russian company Gazprom must pay a US $4.7 billion fine to Naftogaz Ukraine.

    According to Interfax, Gazprom released a clarifying …

  • Ukraine's Naftogaz: Gazprom stopped sending gas bills for the Donbas

    Naftogaz of Ukraine claims that Russian Gazprom has stopped sending bills for the gas which is supplied to the territories of Donbas that are not under the Ukrainian government’s control.

    However, the Ukrainian company reports that, “the volume of gas supplies has increased, which also shows in Gazprom’s reports.” Gazprom has not commented on this statement yet.

    In February 2015, Gazprom began to supply gas to separatists in the the Donbas through gas-measuring points that are not controlled …

  • Hague Arbitration court to commence hearings for Ukraine's Naftogaz case against Russia on May 14-20

    Next week, the Ukrainian National Joint-Stock Company [NJSC] Naftogaz and six of its subsidiaries will initiate a court hearing against Russia in the Arbitration Court in Hague. Naftogaz is pursuing legal action to recover lost company assets which were seized by Russia in the Crimea, the Naftogaz press service reports.

    During the hearings scheduled for May 14-20, the court will determine whether Naftogaz has grounds to take Russia to court under the Russian-Ukrainian bilateral agreement on …

  • Ukraine's energy security was discussed at NATO meeting

    The Ukraine-NATO Commission at the level of deputy permanent representatives with the participation of the Head of the National Joint-Stock Company Naftogaz of Ukraine, Andriy Kobolyev discussed issues of Ukraine’s energy security at a meeting on Monday, May 7.

    The press service of the company stated that the Naftogaz report was devoted to the decision of the Arbitration Institute of the Stockholm Chamber of Commerce. The implementation of the Nord Stream 2 project sparked a discussion during …

  • 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 …