Naftogaz to increase claim against Gazprom in Stockholm arbitration - report

18:35, 29.09.2015 1 min read

Naftogaz Ukrainy will increase its claims aginast OAO Gazprom in the Arbitration Institute of the Stockholm Chamber of Commerce on the 2009 contract on gas transit due to the persistent underestimation of the transit volume, according to a Naftogaz annual report.

"Naftogaz's cash claims against Gazprom in the arbitration on the gas transit contract are more than $11.7 billion. These claims concern non-fulfillment of the contract prior to 2015 and will be expanded taking into account the claims of 2015," the report said.

According to the document, the minimum amount of gas which Gazprom should annually transport through the territory of Ukraine under the contract is 110 billion cubic meters, whereas in 2009-2013 it was equal to an average of 94 billion cubic meters, and in 2014 it fell to 62 billion cubic meters.

"Naftogaz demands compensation for the failure to transit the contracted volume of gas, in particular in view of the fact that the tariff for its transit depends on the volume of transported gas," the report said.