Naftogaz waiting for decision of London court for shareholder agreement with Ukrnafta before July 2018

15:16, 22.12.2017 1 min read

National joint-stock company Naftogaz Ukrainy is waiting for the decision of London Court of International Arbitration regarding the shareholder agreement with minority shareholders in public joint-stock company Ukrnafta before July 2018, Naftogaz Board Chairman Andriy Kobolev has told reporters.

"We are waiting for the decision for the shareholder agreement during H1 2018," he said.

As reported, Littop Enterprises Limited, Bridgemont Ventures Limited, and Bordo Management Limited, the minority shareholders of Ukrnafta, filed a claim with the Arbitration Institute of the Stockholm Chamber of Commerce in June 2015, demanding $4.7 billion in compensation for the actions of the government and Naftogaz Ukrainy on limiting the company's ability to freely sell gas and violating the agreement on cooperation and mutual understanding.

Naftogaz Ukrainy holds 50% plus one share in Ukrnafta, Privat Group holds about 42% of the shares.