Naftogaz names Plan B in case of Nord Stream 2 launch

REUTERS Ukraine will seek to achieve compensation in the amount of US $12 billion if Nord Stream 2 is launched, according to NAC Naftogaz of Ukraine Chief Commercial Officer Yuriy Vitrenko. Asked if Ukraine had its Plan B in case Nord Stream 2 started operating, Vitrenko said: "Yes, we filed a suit with the arbitrage on $12 billion. This is exactly the amount that reflects the compensation for the damage that Ukraine will incur if the Nord Stream 2 is built and the capacity of the Ukrainian gas transport system is not used. To this end, we have the appropriate legal capabilities. Therefore, we can now demand a revision of the tariff. We are doing exactly that on the one hand," TV Channel 5 reports. "On the other hand, there are European rules for this tariff. And they allow us respectively reflecting the effect of the non-use of the Ukrainian GTS after 2019," the Naftogaz CCO added. Read alsoNaftogaz sees over $110 mln in losses over Gazprom&#39;s refusal to comply with arbitration award "In this case, the very tariff level itself has no practical significance, because the decision will be made after the contract expires, so it’s just a matter of compensating for the lost tariff revenue. And this compensation is more than $12 billion," said Vitrenko. As UNIAN reported earlier, the Nord Stream 2 project involves the construction of two strings of a gas pipeline running from the Russian coast via the Baltic Sea to Germany. The construction completion of a 1,220-km long pipeline worth EUR 9.5 billion with a capacity of 55 billion cubic meters a year is scheduled for late 2019. Ukrainian President Petro Poroshenko earlier called on European partners to abandon the Nord Stream 2 gas pipeline project. "Nord Stream 2 is a &#39;Trojan horse&#39; of the Kremlin against European energy and, ultimately, geopolitical security," the president said.

Naftogaz names Plan B in case of Nord Stream 2 launch

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