12:42 28.03.2015

Kolomoisky won't rule out arbitration proceedings over non-payment for Ukrnafta's gas

1 min read
Kolomoisky won't rule out arbitration proceedings over non-payment for Ukrnafta's gas

Businessman Ihor Kolomoisky will not rule out using proceedings in the London Court of International Arbitration over the non-payment by the state, specifically Naftogaz Ukrainy, for natural gas produced by PJSC Ukrnafta.

"We are preparing for the trial on these 10.5 billion cubic meters and we will either get an amicable agreement or the verdict of the tribunal, an international tribunal, not Ukrainian," he said on the Pravo na Vladu program on 1+1 TV Channel.

According to him, for several years, Naftogaz Ukrainy the major shareholder of Ukrnafta, has not been paying for 10.5 billion cubic meters of gas produced by the company.

He said Ukrnafta has difficulties with "real money" for the payment of royalties and dividends. In particular, he said that Ukrnafta should pay about UAH 1.8 billion in dividends to the state and around UAH 2.5 billion to minor shareholders.

"Let them pay at least a little, and then we will pay dividends and royalties to make payments to the shareholders," Kolomoisky said.

At the same time, Kolomoisky said he believes that the parties can reach a compromise, as the ongoing consultations and negotiations "are constructive."

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