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Gazprom files $4.5 billion lawsuit against Ukraine's Naftogaz

June 16, 2014, 11:21 UTC+3 MOSCOW
The European consumers will continue to receive natural gas in full
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MOSCOW, June 16. /ITAR-TASS/. Russian gas giant Gazprom has filed a $4.5 billion suit against Ukraine’s energy company Naftogaz to the Stockholm arbitration court and switched Ukraine to an advanced payment system, the company said in a statement on Monday.

“Gazprom has turned to the Stockholm international arbitration court with a suit against Naftogaz Ukrainy seeking the recovery of a $4.5 billion debt due to the company’s improper fulfillment of the contract signed on January 19, 2009 on purchasing and selling of gas in the years 2009 through 2019,” the company said.

The European consumers receive the gas in full volume. “The volumes of gas meant for the EU are being pumped according to contracts. Naftogaz must provide flawless supplies to the gas transfer stations,” the company’s representative Sergei Kupriyanov told Rossiya 24 TV channel in an interview.

The European Commission was notified in advance on possible disruptions in gas supplies. “The commission is notified on possible transit disruptions in case Naftogaz takes unauthorized amounts of gas from the transit flows,” the company said.

Gazprom also switched Ukraine to an advance payment system as Kiev has failed to repay a $1.951 billion in debt by 10:00 Moscow time (06:00 GMT).

“The decision is made due to Naftogaz’s persistent nonpayment. The overdue debt amounts to $4.458 billion, comprising $1.451 billion for November-December supplies and $3.007 billion for April-May supplies,” the company said.

Ukraine also failed to transfer an advance payment for June supplies. Naftogaz will be provided with only paid amount of gas from Monday, Gazprom said.

First Deputy Prime Minister Arkady Dvorkovich said that Russia’s further actions will be decided on Monday after Gazprom CEO Alexei Miller reports to President Vladimir Putin,

“Negotiations on specific conditions of supplies, including the prepayment, have been held until the very last moment. Today Gazprom’s CEO and the energy minister are to report to the president. The decisions will be made after the report,” Dvorkovich said.

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