National joint-stock company Naftogaz Ukrainy has assessed its liabilities to public joint-stock company Ukrnafta for gas consumed in the period of 2006-2011, 10.1 billion cubic meters (bcm) of gas, at the prices set by the regulator in the sum of UAH 3.753 billion, according to an audited report of Naftogaz Ukrainy for 2012-2013, conducted under international financial reporting standards (IFRS).

The holding said that under Ukrainian law, Ukrnafta is to sell all gas extracted in the country to Naftogaz Ukrainy. In 2006-2011, the gas sale agreements were not signed by Ukrnafta and Naftogaz Ukrainy. Also, no gas storage agreements between Ukrnafta and Ukrtransgaz were signed.

"The consumption of natural gas is a continuous process, and households have effective agreements on the supply of natural gas, there are no grounds to stop gas supplies. The company declared at court that it has the right to sign gas sale agreements," reads the report.

Ukrnafta filed a claim to court that the price of gas set by the National Commission for Energy Regulation of Ukraine (NCER) is not fair and that the higher price should be set. Ukrnafta filed several more claims against Ukrtransgaz and Naftogaz Ukrainy in relation to the ownership of natural gas extracted by the company.

Previously, businessman Ihor Kolomoisky, a minority shareholder in Ukrnafta, said that he 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 Ukrnafta.

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