The final figures of settlements in a dispute between NJSC Naftogaz Ukrainy and Russia's Gazprom will be clear after the Arbitration Institute of the Stockholm Chamber of Commerce rules on a gas transit contract, which is expected at the end of February 2018, Naftogaz CEO Andriy Kobolev has said.

"We will be able to talk about the final figures who owes who and sums of settlements with OAO Gazprom after that [decision by the Arbitration Institute on the transit dispute]," he said at a meeting with Ukrainian President Petro Poroshenko which was broadcast by Ukrainian television channels on December 22.

At the same time, Naftogaz distributed a press release on the issue which said it hoped to succeed and that Naftogaz's financial claims totaled up to $16 billion, including interest, for the dispute in arbitration proceedings on the transit contract.

"A final understanding of who owes how much to who and how and when the settlement between the two sides will take place will not likely appear before February," the press release said, citing Naftogaz Chief Commercial Officer Yuriy Vitrenko.

Naftogaz also said that it would apply maximum efforts to implement the ruling of the arbitration court in good faith, noting that a final decision in the proceedings on the transit contract was expected on February 28, 2018.