13:34 05.07.2019

Swedish court upholds ruling that Lithuania not entitled to 1.5 bln euros from Gazprom for overpaying for gas

2 min read
Swedish court upholds ruling that Lithuania not entitled to 1.5 bln euros from Gazprom for overpaying for gas

 A Swedish appeals court has upheld a Stockholm arbitration ruling made on June 22, 2016 in a dispute between Lithuania and Gazprom finding that Lithuania is not entitled to receive 1.5 billion euros for overpayment on Russian gas sold to the country.

Lithuania filed the appeal in September 2016. The Energy Ministry confirmed that the Swedish court decided on Thursday not to overturn the earlier Stockholm arbitration ruling, BNS reported.

"Therefore, the conclusions of the Swedish arbitration court, which rejected all of Lithuania's claims regarding the conditions for purchasing Russian gas, were confirmed," Gazprom said in a statement.

This includes the "claim to collect about 1.5 billion euros ($1.9 billion) from Gazprom, as well as all of Lithuania's assertions regarding the unfairness of prices for gas that Gazprom supplied from 2006 to 2015 to Lithuania company Lietuvos Dujos," the Russian gas giant said.

The Swedish court also ordered Lithuania to reimburse Gazprom for all court costs.

"Today's decision puts an end to an eight-year dispute initiated by Lithuania against PJSC Gazprom. At every stage of this dispute international arbitration courts and courts in various jurisdictions, including the Court of Justice of the European Union, systematically rejected all of Lithuania's claims, which confirms that they are unfounded. Now Lithuanian taxpayers, in addition to financing Lithuania's expensive disputes, will also have to pay court costs incurred by PJSC Gazprom," the Russian company said.

"The Energy Ministry is assessing the court decision and its reasoning. Only after reviewing the argumentation of the decision and its reasoning will it be possible to decide whether and what further actions are possible," the ministry said.

 

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