Contents tagged with Naftogaz of Ukraine

  • Ukraine's Naftogaz achieves interim victory in the Crimean assets lawsuit against Russia

    Naftogaz of Ukraine has achieved an interim victory in The Hague arbitration in its lawsuit against Russia regarding the seizure of assets in annexed Crimea. On Friday, CEO of Naftogaz of Ukraine Andriy Kobolyev stated at a briefing that the Court recognized that Russia had violated a bilateral agreement on reciprocal investment protection.

    "Naftogaz of Ukraine received the arbitration decision in The Hague where the lawsuit against Russia on the lost assets in the Crimea and on the shelf of …

  • Ukraine's Naftogaz starts collecting Gazprom debt in Luxembourg

    One year after its lawsuit victory against Gazprom at the Arbitration Institute in Stockholm, Naftogaz of Ukraine announced on Facebook that it has started collecting its debt from the Russian company in Luxembourg too.

    “Gazprom has to pay us $4.6 billion in compensation according to the transit contract,” the Ukrainian company’s press service stated, noting that it has already received $2.1 billion in gas. “The remaining amount we have been collecting through an enforcement process in several …

  • Ukraine's Naftogaz hires American lawyers for the Crimean assets case against Russia

    According to the ProZorro public procurement system’s data, the national joint-stock company Naftogaz of Ukraine hired the US law firm Covington & Burling LLP for $5.9 million to protect their rights and interests during the argument settlement with Russia about the seizure of the group’s assets in the Crimea.

    The purchase of the service was part of a contractual procedure to attract skilled and highly qualified legal advisors to ensure the protection of the rights and interests of Ukraine …

  • Ukraine prepared to extend gas transit agreement with Russia under European rules

    Andriy Kobolyev, CEO of Ukraine’s national oil and gas company Naftogaz, said in a press conference after trilateral negotiations in Brussels that the company is willing to extend the current agreements to transit Russian gas through Ukraine after 2019 if they comply with European regulations.

    “Naftogaz is willing to consider future agreements only if they completely abide by the European legislation that has been implemented in Ukraine,” Kobolyev said.

    He added that Naftogaz is open to all …

  • Ukraine to reduce its claim against Russia's Gazprom if new transit contract is signed

    Ukraine’s state-owned oil and gas company Naftogaz will reduce the amount of the new claim against Gazprom from $12 billion to $2 billion if Russian gas monopolist signs a new transit contract, stated Naftogaz CEO Yuriy Vitrenko in Brussels, Ukrinform reports.

    "Indeed, the sum of new claims is about 12 billion dollars. Part of these claims is because we do not expect gas transit through Ukrainian territory after 2019... The chances of winning are very high. We have already proven that when we …

  • Putin discusses risk of exporting Russian gas to Europe through Ukraine

    In a press conference after meeting with Serbian President Aleksander Vučić, Russian President Vladimir Putin spoke about the risk of transiting Russian gas to Europe through Ukraine.

    According to Putin, the Russian delegation to the trilateral gas meeting in Brussels will bring up this issue.

    “The management of Gazprom will be in Brussels next week, and will discuss a number of collaboration matters. Incidentally, [they will also discuss] transit through Ukraine, taking into account the …

  • Switzerland seizes Gazprom’s revenue from Nord Stream

    The gas dispute with Ukraine may cost Gazprom its profits from pumping gas through the Nord Stream pipeline, which has been operational since 2012, and through which 61 billion cubic meters of gas were pumped to Europe last year, a third of Russia’s entire gas export.

    A Swiss court has seized payments made by the pipeline operator, Swiss-registered Nord Stream AG, to Gazprom, the operator’s 51% shareholder.

    The seizure was imposed as part of the interim measures for the ruling by the …

  • Ukraine and IMF agree on gradual increase in gas price

    During the negotiations with the International Monetary Fund, the Cabinet of Ministers reached a preliminary agreement to gradually increase gas prices for the population to the level of import parity until 2020, said Andriy Kobolyev, the head of Naftogaz Ukraine at the forum of the European Business Association, Interfax Ukraine reported.

     “The government has reached an initial compromise. The [price] increase rate is now being discussed,” he said.

    The head of Naftogaz said that the issue of …

  • Russia's gas conglomerate Gazprom removes the list of subsidiaries from its website

    The list of subsidiaries and affiliates disappeared from the website of Gazprom, reported Deutsche Welle.

    Previously, the list contained 161 companies, including defunct companies and technical structures. At the moment, the page of subsidiaries reports that “the list of organizations controlled by Gazprom JCS is published in the Quarterly Report”.

    In February 2018, the Stockholm Arbitration Court obliged Gazprom to pay the Ukrainian company Naftogaz US $4.63 billion for the pumping of 110 …

  • Ukraine's Naftogaz: Nord Stream 2 can still be stopped

    The construction of the Nord Stream 2 gas pipeline, which would be used to transit Russian gas to Europe in circumvention of Ukraine, can still be stopped, Naftogaz commercial director Yuriy Vitrenko told Deutsche Welle.

    According to him, the position of Denmark, whose government has not yet given authorization for the pipeline to be laid through its territorial waters and exclusive economic zone, could be a serious obstacle for Gazprom. According to the existing plan, Nord Stream 2 is …