Naftogaz believes their chances of beating Gazprom in Stockholm court are high

Director for Business Development at the national joint-stock company Naftogaz of Ukraine Yuriy Vitrenko stated that Ukraine has a good chance of obtaining a positive decision for their claim against Gazprom in the Stockholm Arbitration Court.

“In short, we are in the home stretch. Trials will start in the next few months. Our position is very firm, as demonstrated by the fact that, in particular, even Putin had to change his favorite statement about Gazprom: that since 2020 they will not need our gas transportation system for transit of their gas. You understand that Putin would not change his favorite propaganda point, that Russia will not depend on Ukraine for any reason. But we see the change in Putin’s position about Gazprom as a legal trick. We are confident that we will prove it in the arbitration,” he wrote on Facebook.

According to him, the arbitration decision should be made by the first half of next year. The decision on the gas supply contract is expected by the end of the first quarter.

“Gazprom will have to implement the decision immediately. The analogy with Yukos Oil Company’s claim is not relevant. Gazprom’s assets are not protected by state sovereignty and they do not have enough assets in Europe on which penalties could be imposed,” Vitrenko asserted.

Currently, the Stockholm Arbitration Court is considering two disputes between Naftogaz and Gazprom regarding gas purchased by Ukraine and gas supplied by Russia being transported through Ukraine.

Gazprom is accusing Naftogaz of a shortfall in contracted gas volumes, and Naftogaz is accusing Gazprom of not fulfilling their commitment to transit. Gazprom’s claim is for $38.7 billion. Naftogaz’s claim is over $26.6 billion.

  Ukraine, Russia, Naftogaz, Gazprom, court proceedings