Economy

Stockholm arbitration court obliges Gazprom to pay for transit of 110 bcm of gas per year – Kobolev

The Stockholm Arbitration Tribunal has obliged PJSC Gazprom to pay for transit of 110 billion cubic meters of gas across the territory of Ukraine annually, Naftogaz Ukrainy Board Head Andriy Kobolev said at a press conference in Kyiv on Thursday.

According to him, this is not a classic "take or pay" case, but if Gazprom does not fulfill the contractual volume of transit of 110 billion cubic meters per year, Naftogaz will again file a claim with the arbitration court and will sue the Russian company for non-fulfillment of the terms of the contract.

As reported, the Arbitration Institute of the Stockholm Chamber of Commerce has obliged Russia's gas giant Gazprom to pay $4.63 billion to Naftogaz for the failure to meet gas transit obligations.

Since the court previously ordered Naftogaz to pay Gazprom for gas supply arrears, Gazprom's net payment after two arbitration disputes between the two companies on gas supplies and transit shipments will be $2.56 billion.

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