Dispute for natural gas: The Stockholm arbitration saved Ukraine from bankruptcies

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Two billion dollars. " National joint-stock company "Naftogaz Ukraine"" has to pay such sum to PUBLIC JOINT-STOCK COMPANY "GAZPROM" according to the decision of the Stockholm arbitration.

Court obliged" National joint-stock company "Naftogaz Ukraine"" to pay to PUBLIC JOINT-STOCK COMPANY "GAZPROM" 2 billion 19 million dollars for natural gas which was put at the end of 2013 and at the beginning of 2014. Kiev still did not pay for it because there consider that the price unfair. In Kiev the court decision interpreted in own way .

"It led to a victory at all points National joint-stock company "Naftogaz Ukraine" over PUBLIC JOINT-STOCK COMPANY "GAZPROM". I consider that it is a historical victory " — President of Ukraine Petro Poroshenko declares.

"the President Petro Poroshenko declared

a clear and unconditional victory that, at least, strange, and allows to reflect, and whether correctly it informed on the decision of this arbitration. We consider that claim PUBLIC JOINT-STOCK COMPANY "GAZPROM" in basic provisions is completely satisfied, and how it is represented by the Ukrainian party, it is called: spit in eyes — all God's dew" — the deputy chairman of board PUBLIC JOINT-STOCK COMPANY "GAZPROM" Alexander Ivanovich Medvedev reacted to victorious reports Kiev.

In addition, per every day delays, since December 22, "National joint-stock company "Naftogaz Ukraine"" will be obliged to pay 600 thousand dollars, for the last 3 days already ran nearly 2 million dollars of a penalty fee. But also it yet all debt Kiev.

"Earlier within a so-called winter package, the part of our requirements was already satisfied at a rate of 3,1 billion. That is, total amount on this dispute made 5,1 billion dollars which received or will receive PUBLIC JOINT-STOCK COMPANY "GAZPROM" in total" — the deputy chairman of PUBLIC JOINT-STOCK COMPANY "GAZPROM" Alexander Ivanovich Medvedev continues. whether

National joint-stock company "Naftogaz Ukraine"?

2 billion — are very essential sum. Approximately as much Ukraine received for transit in 2016. At Kiev there are three possible sources of financings: loans the international creditors, refusal of a payment for transit within a year or transposition of all this on shoulders of the population — indexation of tariffs for gas.

But also arbitration made the decision on a so-called condition "take or pay".

it also pleased with

Petro Poroshenko. The Stockholm arbitration refused to collect with" National joint-stock company "Naftogaz Ukraine"" some tens of billions dollars by the situation "take or pay". It is connected with that implementation of this requirement simply would ruin Ukraine. Also the arbitration demanded to select and pay 5 billions cubic meter of the Russian gas until the end of action contracts — in 2018 and 2019. If them do not take, it will be obliged to pay for 5 billions cubes all the same Kiev.

But it not all judicial proceedings between PUBLIC JOINT-STOCK COMPANY "GAZPROM" and "National joint-stock company "Naftogaz Ukraine"". At the end of February, 2018" National joint-stock company "Naftogaz Ukraine"" and PUBLIC JOINT-STOCK COMPANY "GAZPROM" expect one more decision from the Stockholm arbitration. Already in claim "National joint-stock company "Naftogaz Ukraine"" to PUBLIC JOINT-STOCK COMPANY "GAZPROM". Dispute subject already another contract — on transit of natural gas. Apparently, before the end of the second business Kiev does not plan to pay money.

"We expect the decision at the end of February. After that we will be able to speak about final figures — who to whom how many has to and what calculations need to be carried out with PUBLIC JOINT-STOCK COMPANY "GAZPROM" — chapter National joint-stock company "Naftogaz Ukraine" Andrey Kobolev underlines.

thus in Kiev declare that threat to gas transit to Europe is not present. There is a wish to trust in it, considering that export of PUBLIC JOINT-STOCK COMPANY "GAZPROM" now on record marks. In 2017 consumption of gas many Europeans, including Germany, Austria, Czech Republic increased, Netherlands.

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in this article
Alexander Ivanovich Medvedev
Last position: President, CEO (JOINT-STOCK COMPANY "FC "ZENIT")
Andrey Kobolev
Last position: Head (HAK "Naftogaz Ukrainy")
in this article
PJSC Gazprom
Main activity:Production and distribution of the electric power, gas and water
HAK "Naftogaz Ukrainy"
Main activity:Production of coke, oil products and nuclear materials