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Chief Commercial Officer of NJSC Naftogaz of Ukraine Yuriy Vitrenko says that the Ukrainian oil and gas monopoly is set to raise claims against Russia's gas giant OAO Gazprom lodged with the Arbitration Institute of the Stockholm Chamber of Commerce by more than US$5 billion, according to Channel 5.
"As for the transit contract, we are expecting a ruling on our lawsuits, as Gazprom has its lawsuit, but the sum there is quite small. Our claims, which we have already filed, exceed $13 billion, we will add another sum worth more than $5 billion. In turn, Gazprom's claims are estimated at $7 million. It seems the amount is something like that," he said, Channel 5 reported.
The Arbitration Institute of the Stockholm Chamber of Commerce has been considering two cases between Ukraine and Russia since 2014. Both cases are related to gas contracts signed in 2009 after talks between the then Ukrainian Prime Minister Yulia Tymoshenko and her Russian counterpart Vladimir Putin.
Read alsoNaftogaz: No plans to give up claims against GazpromThe total sum of claims filed by the Ukrainian company under gas purchase and gas transit contracts is $50 billion.
As UNIAN reported earlier, Naftogaz on May 31, 2017, received a separate ruling of the Arbitration Institute of the Stockholm Chamber of Commerce in the framework of a lawsuit filed by the Ukrainian company against Russia's gas monopoly Gazprom related to the gas purchase contract.
The Arbitration Institute satisfied Naftogaz's claim to review the price under the 2009 gas purchase contract with Gazprom retroactively from 2014, taking into account market conditions.
Also, there was a separate ruling to cancel Gazprom's "take-or-pay" rule, according to which Ukraine was either to buy 52 billion cubic meters of gas every year or pay the price of it even if not the entire contracted volume was bought. In addition, Gazprom's ban on gas resale was lifted.
UNIAN memo. The Arbitration Institute of the Stockholm Chamber of Commerce has been considering the claims filed by Naftogaz on behalf of Ukraine against Russia's Gazprom regarding the transit of Russian gas to the EU through Ukraine and the purchase of Russian gas by Ukraine.
According to Naftogaz, the amount of its claims against Gazprom under the gas purchase contract was $30.3 billion as of May 29, 2017, of which $14.1 billion was required for revision of the price for gas consumed by Ukraine in 2011-2015. Those from Gazprom against Naftogaz totaled $47.1 billion, of which $34.45 billion was related to Gazprom's "take-or-pay" sanction.