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Gazprom expects Stockholm court’s verdict on its claim vs Naftogaz in late June 2016

August 10, 2015, 13:13 UTC+3 MOSCOW

On June 12, 2015, Gazprom specified the sum of claim to the Ukrainian company, which is now $29.2 bln

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Headquarters of Russia's natural gas giant Gazprom

Headquarters of Russia's natural gas giant Gazprom

© AP Photo/Alexander Zemlianichenko

MOSCOW, August 10. /TASS/. Russia’s gas giant Gazprom expects the Stockholm Arbitration Court to bring a verdict on its claim against Naftogaz of Ukraine in late June 2016, Gazprom said in a statement on Monday

On June 12, 2015, Gazprom specified the sum of claim to the Ukrainian company, which is now $29.2 bln. The hearings on the case are scheduled for February-March 2016.

The court is to consider Naftogaz’ counterclaim against Gazprom in September 2016. The verdict is expected in late January 2017.

Naftogaz also specified the sum of its claim to Gazprom which is $ 11.16 bln.

In 2014, both Gazprom and Naftogaz filed mutual claims to the Stockholm Arbitration Court last year on the gas price and debt amounts.

As TASS previously reported, Ukraine intends to sue Russia in the Stockholm Arbitration Tribunal over gas transit rates, said the chief adviser to the Ukrainian national energy company Naftogaz CEO, Sergey Oleksiyenko on June 16.

The chief adviser said the transit rate for pumping Russian natural gas to Europe was unjustifiably understated.

"The transit rate is calculated considering the projected transit volumes, which Russia fails to comply with, and also proceeding from a forecast on the long-term prospect of using the infrastructure for gas pumping," Ukrinform news agency quoted Oleksiyenko as saying.

"A long-term prospect can’t be foreseen because it may be disrupted by the Russian side unilaterally. All this substantiates our position in the Stockholm Arbitration Court. We consider the current transit rate as understated," he said.

Igor Prokopiv, president of the Ukrainian gas transportation company Ukrtransgaz, has said the transit rate currently stands at 294.40 rubles ($5.4) per 1,000 cubic meters.

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