The Arbitration Institute of the Stockholm Chamber of Commerce before May 31, 2019 would issue the final award in the case on the termination of the joint venture (JV) agreement signed by PJSC Ukrgazvydobuvannia and Karpatygaz LLC and Misen Enterprises AB (Sweden, the shareholder in Karpatygaz), the press service of Misen has reported.

As reported, Ukrgazvydobuvannia on July 15, 2016 appealed to the Arbitral Tribunal in Stockholm with a claim for the termination of the cooperation agreement with Karpatygaz LLC and Misen Enterprises AB, as well as on loss recovery.

Ukrgazvydobuvannia in autumn 2015 said that Karpatygaz and its shareholder Misen refused to fulfill obligations under the JV agreement. According to Ukrgazvydobuvannia, Misen contributed only $3.68 million of investments during the contract period, while the capitalization of Karpatygaz during the contract period amounted to UAH 1.5 billion (due to the production of more than 700 million cubic meters annually from 110 Ukrgazvydobuvannia wells).

Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is Ukraine's largest gas producer, which provides about 75% of the total gas output in the country.

Misen Enterprises AB is a subsidiary of Misen Energy AB headquartered in Sweden.