Naftogaz to expand its claims against Gazprom

As of the first quarter of 2016, NJSC Naftogaz of Ukraine will increase its claims against Gazprom up to $1 billion under the gas transit contract, as reported by Business Development Director, Yury Vitrenko, on his Facebook page. “We will receive nearly $1 billion from Gazprom for the first quarter of 2016 for underpayment of gas transit costs,” he said.

According to Vitrenko, the claims under the gas purchase contract will be also expanded.

“Both parties will expand their claims before the arbitration in Stockholm ends. Gazprom will be awarded additional amounts for gas they wanted to sell us but we have not bought… And we, in turn, will request additional sums as compensation for our overpayment (as compared to fair market price) for gas supplies (for instance, in 2016) and for their underpayment for our transit services. During just the 1st quarter of 2016 we are owed nearly $1 billion from Gazprom in underpayment for transit services! This sum would be around $4 billion at an annual level for 2016,” Vitrenko noted. We will uphold our rights for gas purchases and transit services according to the contract.”

He emphasized that as before, he considers Gazprom’s claims to be unsubstantiated. Earlier, with the Arbitration Institute of the Stockholm Chamber of Commerce, Gazprom increased its claims against Naftogaz to $32 billion.

  Ukraine, Naftogaz, Russia, Gazprom, lawsuit

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