12:42 27.11.2019

Naftogaz wins lawsuit under first Gazprom's counterclaim against Stockholm tribunal award in court of appeals

3 min read
Naftogaz wins lawsuit under first Gazprom's counterclaim against Stockholm tribunal award in court of appeals

The Svea Court of Appeal in Sweden has issued a judgment in favor of NJSC Naftogaz Ukrainy under a counterclaim of Russia's Gazprom against the award of the Arbitration Institute of the Stockholm Chamber of Commerce, Naftogaz Ukrainy Executive Officer Yuriy Vitrenko has said.

"Total victory! Ukraine wins again! We won the appeal hearing under the first counterclaim of Gazprom against the award of the Stockholm arbitration tribunal," he wrote on his Facebook page on Wednesday.

According to a press release of the court, the judgement shall be final and without appeal.

"Today's judgement means that Gazprom's action is dismissed and that the special arbitration will not be set aside in any way. As part of the assessment, the Court of Appeal found that there was no evidence that there was any error in the procedure," the court said.

The court also said that the court has scheduled the main hearing in the other two cases under Gazprom's claims for 2020.

Naftogaz's press service recalled that the award on the supply contract was made in two stages. A separate award was made by the Arbitration Institute of the Stockholm Chamber of Commerce on May 31, 2017, in which the tribunal completely dismissed Gazprom's claim to apply the take-or-pay principle, satisfied the Naftogaz's request to review the contract price, taking into account market conditions, and also lifted the ban on gas re-export.

Gazprom challenged this awward on November 7, 2017. This appeal is dismissed today," Naftogaz said.

In turn, Vitrenko said that in addition to the dismissed claim of Gazprom, the court also ruled to compensate for the costs of Naftogaz Ukrainy by the Russian company in the amount of EUR 1.022 million and UAH 1.65 million and dismissed the Gazprom's claim regarding secrecy.

"Who else needs proof that our claims are not "absurd," that the awards of the Stockholm arbitration tribunal are justified, and Gazprom simply needs to comply with these awards of the Stockholm arbitration tribunal?" Vitrenko said.

As reported, the Svea Court of Appeal on October 9 began hearings on the decisions of the Arbitration Institute of the Stockholm Chamber of Commerce, which in December 2017 and February 2018 ruled on claims between Naftogaz Ukrainy and PJSC Gazprom regarding gas supply and transit.

"The first case [and there are three cases] concerns, first of all, the arbitration decision, which nullified our obligations under the terms of the take-or-pay contract," Vitrenko then said.

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