19:16 22.12.2017

Naftogaz to settle up with Gazprom in Feb 2018 after arbitration court decision on transit - Kobolev

1 min read
Naftogaz to settle up with Gazprom in Feb 2018 after arbitration court decision on transit - Kobolev

NJSC Naftogaz Ukrainy will settle up with Russia's Gazprom following the proceedings in the Arbitration Institute of the Stockholm Chamber of Commerce in February after the arbitration court makes a decision on the gas transit contract, Naftogaz CEO Andriy Kobolev has said.

"As for settlements with Gazprom, they will be made in February this year after the completion of the second case on the transit contract," he told journalists in Kyiv on Friday.

Kobolev added that the final amount of the obligations of the parties would be known at that time and recalled that the amount of the Ukrainian company's claims to the Russian company under the transit contract was about $16 billion.

Naftogaz earlier said in a press release that it hoped for success in the dispute over the transit contract.

Gazprom said that the Arbitration Institute of the Stockholm Chamber of Commerce on Friday ordered Naftogaz to pay $2.019 billion, plus 0.03% per day in interest beginning on December 22, 2017.

Naftogaz, in turn, noted that it had managed to reduce the price under these supplies to $352 from $485 per 1,000 cubic meters.

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