18:29 09.12.2019

Naftogaz won't be dropping arbitration claims against Gazprom - source

1 min read
Naftogaz won't be dropping arbitration claims against Gazprom - source

 Ukraine's Naftogaz will not be dropping its claims against Russia's Gazprom at the Arbitration Institute of the Stockholm Chamber of Commerce because no like-for-like solution has been found.

"A ready-made solution for Naftogaz to swap its claims under past or ongoing arbitration cases for something equivalent to them has not been found. The company will not just drop them [the claims], not under any circumstances," a source at Naftogaz said.

The Ukrainian delegation accompanying President of Ukraine Volodymyr Zelensky on his visit to Paris to take part in the Normandy format summit includes Naftogaz Ukrainy Executive Director Yuriy Vitrenko.

The source said that any gas decisions that are reached during the summit would be subject to approval by the Ukrainian state company's management or shareholder.

"Any agreements on such a scale would obviously have to be approved at the very least by management and at most by the shareholder," the source said.

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