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Contract with Russia provides that Naftogaz withdraws claims against Gazprom

Contract with Russia provides that Naftogaz withdraws claims against Gazprom
23 of December 2019 г.
Ukraine and Russia have agreed that Russia will repay Ukraine about $3 billion by the end of 2019 pursuant to the judgment of the Arbitration Institute of the Stockholm Chamber of Commerce, and Naftogaz will withdraw the remaining lawsuits against Gazprom.

Energy and Environmental Protection Minister of Ukraine Oleksiy said this at a briefing on Saturday, commenting on the results of the gas talks that took place in Minsk on December 20, an Ukrinform correspondent reports.

“We are settling the issues of future lawsuits. This is a potential win. However, we already have a vision of transit arrangements. Therefore, in this case, the package contract provides for a review of positions regarding future lawsuits. That is, the claim for $3 billion was clearly defined. Decisions on others will be withdrawn as part of the agreements," Orzhel said.

Earlier, Naftogaz Executive Officer Yuriy Vitrenko stated that NJSC Naftogaz of Ukraine was ready to withdraw a new lawsuit against Gazprom if the parties concluded a long-term gas transit contract and if the Ukrainian company got compensation for Gazprom's failure to fulfill its obligations under current contracts.

As reported, Energy and Environmental Protection Minister of Ukraine Oleksiy Orzhel and Russian Energy Minister Alexander Novak said after the 5th round of gas transit talks that a final protocol had been elaborated which brought the parties closer to signing the final agreements.

At the talks in Minsk on December 20, representatives of the European Commission, Ukraine and the Russian Federation reached a final agreement on fundamental points of the transit of Russian gas through the territory of Ukraine to European consumers and settlement of mutual claims.

The current gas transit contract between Naftogaz and Gazprom expires on December 31, 2019.



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