Hearings on seizure of Gazprom’s assets in the Netherlands to start in December

The hearings concerning the seizure of Gazprom’s assets in the Netherlands will commence in December 2019, according to the Russian gas monopoly’s report for the second quarter of 2019.

The document states that Gazprom’s shares in the Blue Stream Pipeline Company and the debt owed by several subsidiaries in the Netherlands to Gazprom were seized by the Amsterdam District Court on May 30, 2018, based on a request from Naftogaz of Ukraine.

The Ukrainian company is having Gazprom’s assets seized in an attempt to collect the $2.6 billion that Gazprom was ordered to pay Naftogaz following a gas transit dispute that was arbitrated in Stockholm.

Gazprom has appealed the arbitration institute’s decision at the Svea Court of Appeal, but Naftogaz of Ukraine is still seeking to enforce it. Hearings at the court of appeal are slated for September-October 2020.

In February 2019, Naftogaz sent banks in Luxembourg a notice to seize Gazprom’s assets in the country. In April, Gazprom filed a lawsuit in Luxembourg disputing these seizures, and took the matter to the Court of Appeal on May 24.

  Gazprom, Russia