Naftogaz expects $20 bln extra revenues in case of winning suit on transit contract against Gazprom

17:16, 15.12.2016 1 min read

Naftogaz Ukrainy expects to receive additional revenues of $20 billion in case of winning the lawsuit against Russia's Gazprom in the Stockholm arbitration on the transit contract.

"We've calculated another $20 billion in future cash flows in case of an arbitration positive decision," Naftogaz Chief Commercial Officer Yuriy Vitrenko said at a press conference in Kyiv.

He noted Naftogaz's general requirements to Gazprom in the lawsuit at the Stockholm arbitration on the transit contract are $10.2 billion.

As reported, the Arbitration Institute of the Stockholm Chamber of Commerce in early December 2016 completed the hearing as part of the litigation between NJSC Naftogaz Ukrainy and PJSC Gazprom on gas transit contract.

Naftogaz insists on revising the tariff for gas transit through the Ukrainian gas transportation system in accordance with European standards, as well as demands to oblige the Russian company to pay a shortage of revenues from transit for 2010-2015.