UJ.com

Top 2 

                        FRIDAY, APRIL 19, 2024
Make Homepage /  Add Bookmark
Front Page
Nation
Business
Search
Subscription
Advertising
About us
Copyright
Contact
 

   Username:
   Password:


Registration

 
GISMETEO.RU
UJ Week
Top 1   

    
Business    

Naftogaz, Gazprom fail to agree on supplies
Journal Staff Report

KYIV, March 27 - Ukraine’s national energy company Naftogaz Ukrayiny and Russia’s Gazprom failed to come to an agreement over natural gas supplies and transit, Naftogaz reported Tuesday.

The failure signals escalation in standoff between the two as Gazprom has refused to comply with last month’s Stockholm court ruling that awarded $2.56 billion to Naftogaz.

“Gazprom made it clear that the Russian gas monopoly refuses to resume gas supplies to Ukraine according to the arbitration decision, and also has refused to confirm that it would pay 2.56 billion dollars,” Naftogaz said in a statement.

Naftogaz and Gazprom last week held the first meeting since the Stockholm court had ruled on February 28 to award the Ukrainian company $4.63 billion in compensation following its 3.5-year natural gas transit contract dispute with Gazprom.

After offsetting debts for previous gas supplies, Naftogaz was to receive $2.26 billion from Gazprom, a ruling that had angered the Russian company, which days later declared it wants to terminate gas supply and gas transit contracts with Ukraine.

Naftogaz and Gazprom will hold another meeting in April, but chances are slim that the parties will be able to find a compromise, according to a company official.

Naftogaz is also seeking to recover up to $8 billion in damages from Gazprom later this year for seizing oil and gas producing assets in Crimea following its annexation by Moscow in March 2014.

In June 2014, Gazprom and Naftogaz lodged multi-billion-dollar claims against each other with the Stockholm arbitration court, which resolves commercial disputes.

The disagreement was a by-product of the worsening relations between Kyiv and Moscow since Russia’s annexation of Crimea and the eruption of Russian-backed separatist violence in Ukraine’s Donbas region, which has killed more than 10,000 people.

The ruling in Stockholm, which concludes the legal dispute, centered on Naftogaz’s claims that it was owed compensation for Gazprom not pumping a certain volume of gas per year via Ukraine and paying too little for what it did send through Naftogaz pipelines. (nr/ez)




Log in

Print article E-mail article


Currencies (in hryvnias)
  12.04.2024 prev
USD 39.17 39.02
RUR 0.418 0.418
EUR 42.02 42.36

Stock Market
  11.04.2024 prev
PFTS 507.0 507.0
source: PFTS

OTHER NEWS

Ukrainian Journal   
Front PageNationBusinessEditorialFeatureAdvertisingSubscriptionAdvertisingSearchAbout usCopyrightContact
Copyright 2005 Ukrainian Journal. All rights reserved
Programmed by TAC webstudio