Zerkal: Stockholm court rules for Naftogaz, cancels gas re-export ban

18:56, 31.05.2017 1 min read

The Stockholm arbitration tribunal has upheld Naftogaz Ukrainy's demand to cancel the ban on re-export of gas, Ukrainian Deputy Foreign Minister Olena Zerkal said.

"The Arbitration Institute of the Stockholm Chamber of Commerce has given its response to questions in dispute concerning the 2009 gas supply contract between Naftogaz and Gazprom... Their position on key issues is as follows: 1) take-or-pay conditions (which account for the lion's share of Gazprom's claims) are canceled in full; 2) the re-export ban is canceled in full; and 3) the price formula is revised from 2014 - the European hub. This is an unambiguous win. Euro-integration remains in force," Zerkal wrote on Facebook on Wednesday.