Arbitration has combined the lawsuits into one case.
Arbitration Institute of the Stockholm chamber of Commerce joined in the lawsuit on termination of Gazprom’s transit contract via Ukraine and the suit of Naftogaz of Ukraine on the revision of the tariff by $12 billion.
This was announced by Gazprom in the Memorandum of new release of Eurobonds.
In March, Gazprom offered Naftogaz of Ukraine “to restore the balance of interests” violated by the decision of the arbitration on the transit contract, which obliged the Russian side to pay $4.7 billion penalty for underutilization of the Ukrainian GTS.
After the failure of these negotiations, Gazprom filed a lawsuit on termination of the transit contract. Naftogaz may 22 responded and their views regarding the conditions of supply and transit.
Also in July, Naftogaz filed a lawsuit at the Stockholm arbitration with the requirement to revise the rate of the tariff for transit from 18 March 2018 and demand from Gazprom about $11.6 billion for the period from March 18, 2018 December 31, 2019 (expiry date of contract). Gazprom on 14 August submitted its response to these requirements.
Arbitration on 6 September decided to combine both suits into one case, says Gazprom. Schedule of hearings in the joint case has not yet been agreed.
Gazprom also said that the court of Appeal of Svea County on November 27 will begin the appeal hearing of Gazprom’s arbitration decision on the transit contract.
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