12:28 22.03.2017

Gazprom's claims against Naftogaz in Stockholm total $50 bln, could grow to $80 bln – Naftogaz

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Gazprom's claims against Naftogaz in Stockholm total $50 bln, could grow to $80 bln – Naftogaz

Claims of Russia's Gazprom against national joint-stock company Naftogaz Ukrainy in the Arbitration Institute of the Stockholm Chamber of Commerce total around $50 billion and potentially they could expand to $80 billion, Naftogaz Ukrainy Chief Commercial Director Yuriy Vitrenko has said in the online interview with Novoye Vremia.

"They demand around $50 billion from us [the sum they believe we were to pay for the relevant volumes of gas and did not pay]. If we look at the future, to the expiration date, this would be an additional $30 billion," he said.

As reported, in June 2014 Gazprom approached the Stockholm Arbitration Institute's Chamber of Commerce with a request for arbitrage with the goal of recovering Naftogaz's debt for gas supplied in 2013 and 2014. Naftogaz in turn brought a case against Gazprom seeking a retroactive revision of the price and compensation for the amount overpaid and the removal of bans to re-export gas. The court has combined both cases.

The arbiters could make the decision on the gas supply contract late March 2017.

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