Naftogaz challenges decision of Swedish court on Stockholm Arbitration

Naftogaz says Gazprom will pay the debt in full and reimburse all related costs.

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National Joint-Stock Company Naftogaz of Ukraine has challenged the decision of the Svea Court of Appeal (Sweden), which, at the request of Russia's gas monopoly Gazprom, ruled out to suspend the $2.6 billion debt collection from the Russian company as part of the Stockholm Arbitration award.

"Today, we've made representations to the Swedish Court of Appeal, which is considering the appeal against the [Stockholm] Arbitration award. Unlike arbitration, whose rules prohibit public disclosure, representations to the Court of Appeal are usually public. So, anyone can read it. There are many interesting things there," Naftogaz Chief Commercial Officer Yuriy Vitrenko wrote on Facebook.

He also stressed that Gazprom would pay the debt in full and reimburse all related costs.

Read alsoSwedish court suspends Stockholm Arbitration award in UA-RU gas transit dispute

"Gazprom is trying not to pay this debt dishonestly. So far, it has only reached a suspension of enforced [debt] collection. We will seek the punishment of Gazprom for such dishonest actions. We will force Gazprom to pay the debt in full and reimburse all related costs," Vitrenko added.

As UNIAN reported earlier, Gazprom lost a gas dispute with Naftogaz in the Stockholm arbitration court and was obliged to pay the Ukrainian company some $2.56 billion and supply up to 5 billion cubic meters of gas per year in 2018-2019 at prices in line with those at European gas hubs.

Despite the defeat, Gazprom announced plans to terminate the contract with Ukraine for the supply and transit of gas, and lowered the pressure in the gas transmission system (GTS), which complicated gas transit shipments to Europe and caused a temporary gas shortage in the GTS (March 2-3).

After the gas crisis was successfully addressed, the European Commission stated that Ukraine had fulfilled all its gas transit obligations.

Late in March, Gazprom officially notified Naftogaz it would not implement the arbitration award.

On May 28, Gazprom said it had submitted an application for a complete reversal of the decision taken by the Stockholm Arbitration in the dispute between Gazprom and Naftogaz of Ukraine over the gas transit contract to the Svea Court of Appeal.

On June 14, Gazprom said that the Swedish court had suspended the execution of the Stockholm Arbitration award in the dispute over the contract on gas transit through the territory of Ukraine, according to which the Russian gas giant owes Ukraine $2.56 billion.

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