“Gazprom” will have to compensate to Naftogaz certain amount.
Head of the NJSC “Naftogaz of Ukraine” Andrey KOBOLEV predicts that the amount of compensation payable under a separate decision of the Tribunal in the Arbitration Institute of Stockholm chamber of Commerce for the dispute “Naftogaz of Ukraine” and PJSC “Gazprom” (Russia), will take 2-3 months.
“We were able to revise the price since 2014 this means that for the entire volume of gas that “Naftogaz” bought from the Russian “Gazprom” from this period of time, Gazprom will have to compensate us a certain amount. The final payment of compensation in both directions is, according to my estimates, approximately 2-3 months,” he said in the air of “1+1”.
This A. KOBOLEV added that the first decision concerned the case of the supply of gas, and now pending the decision on the dispute on gas transit, which according to schedule should be until the end of June, however, according to the head of “Naftogaz”, the decision can be rendered later.
He also noted that if “Gazprom” will refuse to implement the decision of the Stockholm arbitration, it will be unprecedented.
Besides, according to A. KOBOLEV, Gazprom has assets abroad and through the courts he should be arrested.
The head of “Naftogaz” also said that the judgement of 31 may the Stockholm arbitration decision is separate and not intermediate, as it takes a Russian company.
“They (Gazprom – Interfax) do not correctly use the term. This decision is not intermediate, it is the decision of the individual and this decision clearly says that for gas, which Ukraine does not take, but Russia is insisting that we pay on the principle of “take or pay”, we will not pay anything.
As reported, the NJSC “Naftogaz of Ukraine” in may 31 received a separate decision of the Stockholm Tribunal in the proceedings against “Gazprom” on gas supply contract. The Stockholm Tribunal has satisfied the claim “Naftogaz” on the revision of prices in the gas supply contract with Gazprom, taking into account market conditions, and abolished the requirement “Gazprom” to “Naftogaz of Ukraine” under the “take or pay” and fully lifted the ban on re-export by Ukraine of gas.
Counterclaims of “Naftogaz” and “Gazprom” on gas supply contract was submitted to arbitration in June 2014, the oral hearing was completed in October 2016, a decision expected in the second quarter of 2017.
At the beginning of April 2017, the mutual claims of “Gazprom” and “Naftogaz” contract of purchase and sale of gas subject to penalties and interest was approximately $45.7 billion and $17.9 billion respectively.
Financial claims of Naftogaz under the contract include recovery of overpayments for gas ($17.9 billion), the claims of “Gazprom” – the unpaid bills in part of the disputed rates for November 2013 – may 2014 ($2.9 billion) and the payment is not delivered gas on-demand take-or-pay ($42.8 billion).
Excluding penalties and interest claim of “Gazprom” at the end of may 2017 $34.5 billion do not put gas on-demand take-or-pay and $2.2 billion in part of the disputed prices in the fourth quarter of 2013 and the second quarter of 2014, and the requirements of “Naftogaz” – $14.1 billion for overpayment for gas purchased as from 20 may 2011 until October of 2015.
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