10:28 30.05.2018

Stockholm arbitration case could affect shares in Nord Stream, Nord Stream 2

1 min read
Stockholm arbitration case could affect shares in Nord Stream, Nord Stream 2

The arbitration proceedings between Russian gas giant Gazprom and Naftogaz Ukraine over their transit contract could affect shares in the project companies for the offshore gas pipelines Nord Stream and Nord Stream 2.

An industry source told Interfax this refers to the imposition of injunctions on shares in Nord Stream AG and Nord Stream 2 AG. These shares have already been frozen, the source said.

Interfax does not have official confirmation of the reported freeze on shares in the project companies. Gazprom's press service only said that it is clarifying this issue. Naftogaz Ukraine has not responded to questions, while the representative of Nord Stream 2 was unavailable for comment.

It was reported earlier that a Stockholm arbitration court ordered Gazprom to pay Naftogaz Ukraine a penalty of $4.7 billion. Gazprom has filed a challenge in the Svea Court of Appeal to overturn this ruling.

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