Stockholm arbitration starts first meeting on second dispute between Naftogaz and Gazprom
The Arbitration Institute of the Stockholm Chamber of Commerce on January 28 began its first meeting on the second transit dispute between Naftogaz Ukrainy and Gazprom (Russia), Executive Director of the Ukrainian company Yuriy Vitrenko said on his Facebook page.
In July 2018, Naftogaz filed a lawsuit to the Stockholm arbitration with the demand to revise the transit rate of March 18, 2018 and reimbursement from Gazprom to about $12.5 billion. Gazprom, in turn, filed a lawsuit to terminate the transit contract with Naftogaz, which expires at the end of this year. The arbitration combined the claims in one case.
Naftogaz also demands to compensate for losses for Gazprom's failure to fulfill the gas supply contract (as amended by the previous arbitration).
Vitrenko earlier explained that the difference between the revised contract price (the formula that was changed by the previous arbitration court) and the price at which Naftogaz is forced to replace gas supplies from Gazprom with gas supplies from Europe is subject to compensation.