Naftogaz versus Gazprom: First news from Stockholm
Even though Ukraine has not imported gas from Russia since November 2015, their state-owned gas companies Naftogaz and Gazprom are since 2014 involved in a legal battle over their 2009 gas supply and transit contracts.
NL 104 | June 2017
Energy and Climate
The overall sum of compensation claims from both sides amounts to a staggering USD 77 bn, which is a huge amount of money by any standards. Thus, it comes as no surprise that a first ruling of the arbitration tribunal at the end of May 2017 on the supply contract received significant interest around the world. Based on publicly available information, it seems very unlikely that Gazprom’s substantial claims need to be fulfilled by Naftogaz, which removes significant uncertainty on the company and the Ukrainian government.
