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Russia-Ukraine gas dispute

Luxembourg court to hear Gazprom’s case against seizure of assets in January 2020

The Court of Luxembourg earlier rejected Gazprom’s motion to challenge the seizure of its assets in the country

© Marina Lystseva/TASS

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Ukraine’s Naftogaz prepares new lawsuit against Gazprom

MOSCOW, November 29. /TASS/. The Court of Luxembourg will conduct hearings into Gazprom’s complaint against the seizure of its assets in the country in January 2020, Russia’s top gas producer said in its financial report on Friday.

On February 15, 2019, Naftogaz of Ukraine sent to Luxembourg branches of the major banks and Gaz Capital S.A. a notification on the seizure of any liabilities and assets of Gazprom in Luxembourg. On April 15, 2019, Gazprom filed with the Court of Luxembourg a petition to challenge the seizure and intervene in order to defend its rights. On July 8, 2019, the Court of Luxembourg rejected Gazprom’s motion to challenge the seizure.

"Despite the fact that PJSC Gazprom had not been served with the decision, the company appealed against it. Hearings into the complaint made by PJSC Gazprom are scheduled for January 2020," the report reads.

Gazprom and Naftogaz of Ukraine plunged into a litigation over gas supplies and transit contracts back in 2014, as administered by the Arbitration Institute of the Stockholm Chamber of Commerce. In December 2017 and February 2018, the Stockholm Arbitration Court ruled that the Russian company should pay $2.56 bln to the Ukrainian company. Gazprom appealed against the award. The Svea County Court of Appeal in Sweden held a Gazprom appeal hearing in October 2019, dismissing Gazprom’s claim.

In the summer of 2018, Naftogaz began the process of forcibly recovering $2.56 bln from Gazprom through the seizure of its assets in Europe, particularly in Switzerland, the UK and the Netherlands.

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Oil & Gas Russia-Ukraine Gas Dispute

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