Naftogaz to bill Gazprom for 34% overpaid for gas in March

National joint-stock company Naftogaz Ukrainy demands that Russia's Gazprom compensates for 34% overpaid due to emergency purchase of gas in Europe in March, Naftogaz Chief Commercial Director Yuriy Vitrenko has said.

"According to tentative data, average price of gas from European suppliers in March 2018 exceeded the Gazprom's price of gas [after cutting it under the award of the Arbitration Institute of the Stockholm Chamber of Commerce by 33.9%. The sum overpaid will be sent to Gazprom as a bill to be compensated," he wrote on his Facebook page.

Vitrenko said that Gazprom has been officially notified that the Russian company is to pay compensation to Naftogaz for the non-observation of contractual liabilities to supply gas in March.

He said that Gazprom repeatedly showed to the world that the company is not reliable in gas supplies and that Russia is tuned to using gas as a political weapon.