Ukrainian state-owned energy company Naftogaz said earlier this week that Russian gas company Gazprom will have to pay it 2.5 billion dollars following the ruling of the Stockholm arbitration court in a long-running dispute between the two companies.
Naftogaz spokesperson Olena Osmolovska said that Naftogaz was awarded damages of 4.63 billion dollars for Gazprom’s failure to deliver the agreed transit gas volumes, but since the court previously ordered Naftogaz to pay Gazprom for gas supply arrears, the net payment will amount to 2.56 billion dollars. In the dispute, Naftogaz claimed that that it was owed compensation for Gazprom not delivering a certain volume of gas per year via Ukraine and paying too little for transit fees.
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Tags: arbitration, dispute, gas, Gazprom, Naftogaz, Region, Russia, Ukraine