Gazprom must submit a review by October 9, on the claim initiated earlier by Ukraine's Naftogaz Ukrainy in the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in a dispute arising from the contracts on natural gas shipments and transit dated back to 2009, the Ukrainian Cabinet of Ministers said.

"According to the arbitration procedure schedule, which was adopted by members of the tribunal on April 30, 2015, the company [Naftogaz Ukrainy] has filed a claim in the arbitration dispute V2014/129. The defendant [Gazprom] must submit a review on the claim by October 9, 2016," the report prepared in the Ukrainian government and published on Tuesday says.

The procedural schedule of the arbitration case V2014/129 was approved on March 5, 2015, the report says.

In its 'transit' claim, Naftogaz demands that its rights and obligations under the contract on natural gas transit be transferred to Ukrtransgaz, acting as the operator of the country's gas transportation system, to meet the requirements of the Third Energy Package, and that the methodology of calculation of the transit compensation rate be modified, in compliance with the European standards, and provisions of the energy and antitrust laws, applicable in Ukraine and EU.

Naftogaz is claiming more than $11.7 billion from Gazprom in the arbitration case, arising from the contract on Ukrainian transit of natural gas. These monetary claims that are based on the alleged failure to fulfill the contract in the period prior to 2015, will be extended with respect to claims related to 2015.

Naftogaz argues, with respect to its contract with Gazprom to supply natural gas signed in 2009, that the amount of its claims against the Russian company in the arbitration case that have been adjudicated since June 2014, in Stockholm, exceeds $12 billion. The claims are associated with the gas purchases made at rates higher than market ones in the period between 2010 (after the first demand was addressed to Gazprom to adjust the price according to current market levels as per the contract) and 2014.

The cross-demands by Gazprom amount to $26.7 billion, of which $2.1 billion is the alleged difference between the price that was legitimate, according to Naftogaz, with respect to the gas imported in Q4 of 2013, and Q2 of 2014, and the price based on the disputed formula set forth in the contract. However, all other demands are those arising from the "take or pay" provision set forth by the contract.

Naftogaz insists that the "take or pay" provision is a discriminating one, hence, combined with other conditions of the contract (specifically, the formula of the price and the ban for re-exports of gas) and as such cannot be applied in this instance.