The Petro Hodovanets drilling rig / Photo from UNIAN
Taking into account the expected interest, Naftogaz's claim is estimated at US$8 billion.
Adviser to NJSC Naftogaz CEO's Olena Zerkal says the company is awaiting in 2020 a ruling on the amount of compensation for losses as part of the arbitration process launched against Russia regarding the seizure of the company's assets in Crimea.
"We continue fighting for our Crimean assets. The trial is underway, the arbitration is already at the stage when a ruling must be issued, and I think we will have this decision as early as this year despite COVID-19 and the Russians' attempts to postpone all the hearings for a longer period," she said during an online discussion on June 18, 2020.
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As UNIAN reported earlier, as a result of Russia's annexation of Crimea in 2014, Naftogaz's subsidiary Chornomornaftogaz lost its main assets (in particular, Petro Hodovanets and Ukraina drilling rigs), as well as access to natural gas deposits in the Black Sea offshore zone.
To protect its interests, Naftogaz in October 2016 initiated arbitration in accordance with the agreement between the Cabinet of Ministers of Ukraine and the government of the Russian Federation on the promotion and mutual protection of investment, better known as the Russian-Ukrainian bilateral investment agreement.
On September 15, 2017, Naftogaz reported that the state-run holding had filed a lawsuit against Russia demanding US$5 billion in compensation of losses caused by the occupation. Taking into account the expected interest, Naftogaz's claim is estimated at US$8 billion.