eer.ru
National oil and gas holding Naftogaz of Ukraine expects to receive from the Russian energy monopoly, Gazprom compensation ranging between $6.5 billion to $16 billion following consideration by the Stockholm Arbitration Chamber of a major dispute over the gas transit contract, chief commercial officer of Naftogaz Group Yuriy Vitrenko said, according to an UNIAN correspondent.
"We expect to receive money on the transit contract. The amount of our claims ranges from $6.5 bln to 16 bln, depending on whether Ukrainian legislation will be applied or not," he said.
Vitrenko also recalled that the Arbitration Chamber’s ruling on the transit contract is expected to be handed down in late February 2018.
As UNIAN reported, the state of Ukraine, in the person of Naftogaz, has sued Russia's Gazprom in the Stockholm Arbitration Court over the two contracts: on transit of Russian gas to the EU via Ukraine and on purchase and sale of Russian gas by Ukraine.
Read alsoNaftogaz CEO: Contracts with Gazprom not worth paper used
On May 31, the Stockholm arbitration granted the Ukrainian company’s demand to review the price in the gas purchase contract signed with Gazprom in 2009 for gas purchases starting 2014, canceled Ukraine's commitment to buy 52 billion cubic meters of gas annually or pay its cost (the "take or pay" principle), and also completely canceled Gazprom’s ban on gas re-exports.