The decision of the Stockholm arbitration on the dispute of the Russian “Gazprom” from the Ukrainian “Naftogaz” many “bright moments”. This was stated by Deputy Chairman of the Board “Gazprom” Alexander Medvedev at the St. Petersburg international economic forum.
“But there is full of bright moments,” he said in response to a request for comment on interim decision of the court.
Medvedev added that now the documents are studied by lawyers.
As reported earlier , Gazprom said that the decision of the Stockholm arbitration is intermediate.
Wednesday, may 31, the Stockholm arbitration court has announced a closed decision by mutual claims of “Gazprom” and “Naftogaza”. This decision was the first of several anticipated.
- The court overturned the onerous condition “take or pay”, according to which Ukraine had to pay 52 billion cubic meters of gas annually, regardless of the actual supply.
- The court fully lifted the ban of re-export of Russian gas.
- “Gazprom” to revise the formula for calculating the price, but with 2014 and not as required “Naftogaz of Ukraine” from 20 may 2011 to October 2015.
Russian media were quick to say that in this case, Gazprom will demand that Naftogaz payment for gas deliveries in 2013.
Now the parties are awaiting the financial explanations of Stockholm. The amounts that the parties must pay each other on the basis of the decision of the Stockholm arbitration, separately calculate the experts.
In the summer of 2014, Naftogaz and Gazprom have filed against each other claims to the Arbitration Institute of Stockholm chamber of Commerce. Both complaints concerned the contract of purchase and sale of gas, which was concluded in 2009.
Naftogaz urged the court to recognize the principle of “take-or-pay” is not applicable in the world practice; also, the Ukrainian side believes is not a market contract formula for determining gas prices. Also, “Naftogaz” demanded the return of 17,87 billion for gas purchased since may 20, 2011 to October 2015.
Gazprom, in turn, urges Naftogaz to follow the contract and pay all recorded in the volumes of gas and to pay fines – in the amount by 45.78 billion.
In October 2014, Naftogaz additionally filed a complaint under the transit contract, which was signed in the same year 2009. In this case, “Naftogaz” expects to collect from the Russian company of 12.09 billion. “Gazprom” demands of 6.64 billion.
The total amount of claims has already exceeded 80 billion dollars.