Gazprom's claims against Naftogaz for take-or-pay condition could reach $60 bln by 2020

12:51, 07.07.2016 1 min read

The total claims of Russia's OJSC Gazprom against national joint-stock company Naftogaz Ukrainy for the take-or-pay condition outlined in the 2009 contracts and challenged in court could reach $60 billion by 2020, Naftogaz Ukrainy Commercial Director Yuriy Vitrenko has said.

He said at a press conference in Kyiv on Thursday Gazprom's claims have so far mounted to $29.2 billion, and, taking into account the contract term, $29.5 billion more could be accrued. Gazprom has also added a further $2.2 billion as the difference in price for supplies at the end of 2013 and early 2014.

Taking into consideration the cost of the issue, Naftogaz Ukrainy is very careful in gas purchases from Gazprom aiming not to weaken its legal position in Stockholm, Vitrenko said.