Contents tagged with Stockholm Arbitration Court

  • Gazprom not able to suspend gas transit through Ukraine yet

    Despite its statement about the termination of all contracts with Ukraine, Gazprom will not suspend gas transit through Ukraine in the near future, according to a statement made by Gazprom’s Spokesperson, Sergey Kupriyanov, reports RBC news agency.

    “If it was any other way, we would say that openly,” said Kupriyanov when asked if the beginning of the Gazprom-Naftogaz contract termination procedure at the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) would bring an immediate …

  • Russia's Gazprom decided to terminate contracts with Ukraine's Naftogaz after the defeat in Stockholm Arbitration court

    Russian Gazprom announced the beginning of the process to terminate contracts with Naftogaz, as reported by the head of Gazprom, Alexey Miller, Russian RNS news agency writes.

    "Gazprom is forced to immediately terminate contracts with Naftogaz of Ukraine for the supply and transit of gas as a result of the Stockholm Arbitration," Miller said.

    According to him, the arbitration decision on the contracts between Naftogaz and Gazprom violated the balance of interests between the parties and the …

  • Ukraine’s Naftogaz announces victory over Russia’s Gazprom in transit case in Stockholm Arbitration

    Naftogaz reported that it has successfully sued Gazprom for $4.63 billion in a transit dispute at an arbitration court in Stockholm. After deducting payment for already supplied gas, the Russian company must pay $2.56 billion.

    The Arbitration Institute of the Stockholm Chamber of Commerce has partially complied with Naftogaz’s demands, ruling that Gazprom must pay Naftogaz $4.63 billion for its under-delivery according to the transit agreement.

    “Naftogaz was awarded damages of USD 4.63 …

  • Naftogaz: decision of Stockholm arbitration court on Gazprom case reduces the price of Russian gas delivered to Ukraine

    The decision of the Stockholm Arbitration reduces the price of Russian gas for Naftogaz of Ukraine by $ 20 to $50 per thousand cubic meters, in comparison with the old formula price, as stated by the chief commercial director of Naftogaz, Yuriy Vitrenko on ICTV channel

      “A price under the new contract will be significantly lower than the old formula price. Now the difference is about 20$. However, this amount will fluctuate depending on the season, for example, in the second quarter the …

  • Poroshenko congratulates Ukrainians on the victory over Russia's Gazprom

    The decision of the Stockholm Arbitration Court on the dispute between Naftogaz of Ukraine and Gazprom is "a historic victory", said Ukrainian President Petro Poroshenko, according to the Presidential press service. The outcome of the trial is of "the utmost importance" with regard to the country's national security, the president said. "If there had been a loss in this court, Ukraine would face a direct threat of default," Poroshenko stressed during a meeting with the head of Naftogaz, Andriy …