Ukraine's implementation of Stockholm Arbitration decision to resume purchase of natural gas on the border with Russia will reduce the incomes of European suppliers by $ 1.2 billion in 2018. This is reported by Bloomberg. As the agency notes, in 2017, Ukraine imported from the EU 14 billion cubic meters of gas, which is comparable to the annual consumption of Belgium. Energy companies of the EU began to supply gas to Ukraine from 2013, when the domestic demand in Europe fell. However, from 2018 to 2019 inclusive, the state enterprise Naftogaz Ukrainy, according to contracts, will buy 5 billion cubic meters of gas with an advance payment of 80% per year from the Russian Gazprom under the contract and the Stockholm court ruling. Provided that this gas will be supplied at the average import price as of October last year, the amount that the profits of European traders will decrease will be $ 1.2 billion. Finance help. ua: The Ukrainian National Oil and Gas Holding "Naftogaz of Ukraine" started litigation with the Russian "Gazprom" under two contracts: on the transit of Russian gas to the EU through the territory of Ukraine and the purchase and sale of Russian gas by Ukraine. On June 1, the Stockholm Arbitration took an interim decision in favor of Naftogaz, reviewing the prices of the contract for gas purchases from the Russian monopolist in 2009, taking into account market conditions.

In addition, the Stockholm court overturned the demand of Gazprom, according to which Ukraine was to purchase 52 billion cubic meters of gas every year or pay its cost, without selecting the whole volume (take or pay). The Stockholm arbitration lowered the price of gas for Naftogaz Ukrainy, bought from the Russian Gazprom, in the second quarter of 2014 by 27.4% - to $ 352 from $ 485 per 1,000 cubic meters.

Original article: Europeans will lose billions with the resumption of Ukraine's purchases of gas from Russia - Bloomberg.