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 World, Economics
  10941

 Gazprom increases amount of claim to Naftohaz for gas supplies in temporarily occupied territory of Donbas by $700 million

The litigation between Russian Gazprom and Naftohaz of Ukraine in the Arbitration Institute of the Stockholm Chamber of Commerce regarding the contract terms will not be completed this June but will last for about six months more.

This is evidenced by the latest quarterly statement issued by Gazprom, Censor.NET reports citing Interfax-Ukraine.

Read more: Ukraine's lower dependence on Russian gas is crucial change for Ukraine and Europe's security, - Wall Street Journal

Earlier, the decision of the arbitrators in the case on the delivery contract revision was expected in late June 2016. However, it is now expected in late 2016 - early 2017. At present, the claim of Gazprom in this action amounts to $31.75 billion.

Gazprom estimated net debt for gas supplies during the period of 2013 to 2016 at $2.856 billion (excluding surcharge and penalties). Previous reports by Gazprom mentioned the debt of $2.2 billion for gas delivery in 2013 and 2014.

Thus, Gazprom added debt for direct gas deliveries to the occupied Donbas with the one for gas supplies to Naftohaz for the first time. The oral proceedings have been postponed from February and March to September and October 2016.

Read more: Ukraine may get $50 billion from Gazprom by arbitration's ruling, - Naftohaz

The deadline for the decision in the litigation over the transit contract remains the same (late January 2017), but the hearing has been postponed from September to late November - early December 2016.
 
 
 
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