Stockholm, November 28 - Neftegaz.RU. A court in Sweden has rejected the 1st appeal brought by Gazprom over the Stockholm arbitration awards in 2017 and 2018 regarding the company's 10-year
gas supply and transit contract with Ukraine's Naftogaz, Platts reported.
The 1st ruling in the appeals process, heralded as a victory by Naftogaz, comes as the 2 sides remain in a deadlock over future transit of Russian gas via Ukraine to Europe from 2020 after the 2009 agreement expires.
It also comes after Naftogaz CEO Yuriy
Vitrenko earlier this week said the company would be prepared to take the compensation owed to Naftogaz under the arbitration awards in the form of gas.
The Stockholm court of arbitration's original rulings found in favor of Naftogaz to the tune of a net $2.56 billion across three separate awards in May and December 2017, and February 2018.
Gazprom appealed all 3 verdicts and then filed a separate request to have the agreement terminated completely. The next round of talks between the EC, Russia and Ukraine at ministerial level are expected in early December.
Author:
Stuart Elliott
