Gazprom's compensation to Naftogaz under Stockholm arbitration ruling to be determined in 2-3 months
Naftogaz Ukrainy CEO Andriy Kobolev predicts that the calculation of the compensation that is due to the Ukrainian company under a separate ruling by the Arbitration Institute of the Stockholm Chamber of Commerce in the dispute with the Russian gas monopolist Gazprom will take two to three months.
"We have managed to revise the price starting from 2014, which means that Gazprom will have to compensate us a certain amount for all the gas that Naftogaz bought from the Russian Gazprom starting from that date. The final calculations of the compensation by both parties will take about two to three months, according to my estimates," he said on the air of the "1+1" Channel.
At the same time, Kobolev added that the first ruling dealt with supplies of natural gas, and now they are awaiting a decision in the gas transit dispute, which should appear by the end of June. However, the Naftogaz CEO said the ruling may be passed later.
He also noted that if Gazprom refuses to comply with the decision of the Stockholm Arbitration, this will be unprecedented.
In addition, Kobolev said Gazprom has property abroad, which could be arrested through courts.
The Naftogaz head also stressed that the ruling issued on May 31 by the Stockholm Arbitration Court is separate, not an intermediate decision, as Gazprom presents it.
"They (Gazprom) do not use the correct term, this ruling is not an interlocutory decision, this ruling is separate and it clearly says that we will not pay for the gas which Ukraine did not take, but for which Russia insists we should pay under the "take-or-pay" principle," he explained.
As reported, on May 31 the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce in the dispute between Naftogaz Ukrainy and Gazprom gave Naftogaz a right to demand a reduction in the gas price under a contract with the Russian monopolist based on market conditions, and also canceled the requirements of Gazprom to NJSC Naftogaz Ukrainy based on the principle "take or pay" and completely canceled the ban on Ukraine's re-export of gas.
