The Stockholm Arbitration Institute's Chamber of Commerce in November 2017 will hear an arbitration proceeding on termination of the joint activity agreement signed in 2002 by public joint-stock company Ukrgazvydobuvannia and Karpatygaz LLC, Misen Enterprises AB (Sweden, the shareholder in Karpatygaz).

Misen gave the information in its report for FY 2016.

The company said that Misen Enterprises and Karpatygaz LLC received a statement of claim from PJSC Ukrgazvydobuvannia in February 2017 and will submit their statement of defense and counterclaim in May 2017.

As reported, Ukrgazvydobuvannia on July 15, 2016 filed a claim to the Stockholm Arbitration Institute's Chamber of Commerce seeking to terminate the joint activity agreement with Karpatygaz LLC and Misen Enterprises AB and collect losses.

Ukrgazvydobuvannia in autumn 2015 said that Karpatygaz and its shareholder Misen refuse fulfilling its liabilities under the joint activity agreement. The company said that Misen over the period when the agreement was in effect invested only $3.68 million, while capitalization of Karpatygaz over the period was UAH 1.5 billion (thanks to production of over 700 million cubic meters of gas every year from 110 wells of Ukrgazvydobuvannia).