Naftogaz promised Gazprom a record loss

02 March 2018, 11:08 | Economy
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Gazprom's refusal to start deliveries of fuel to Ukraine in March will cost the Russian company hundreds of millions of dollars. This was stated by the head of Naftogaz Andrey Kobolev. In his opinion, Moscow violated its obligations under the contract, so it lost the right to demand the implementation of the formula take or pay (at least in the current year. So Kiev may not buy out 4 billion cubic meters of gas, to which it was ordered by Stockholm Arbitration. "These actions of Gazprom, which contradict the contract, which contradict the decision of the tribunal, which contradict the spirit of the client-supplier relations, I think, will cost Gazprom many political problems in Europe," Kobolev said on the air of Channel 5,. On the eve, Gazprom returned Naftogaz prepayment for March, as the parties have not yet signed an agreement allowing the resumption of direct gas supplies under the contract concluded in 2009. for 10 years, but interrupted by the Ukrainian side in 2015. Thus, the supply of "blue fuel" from Russia to Ukraine in March will not begin. Therefore, the Independent will face difficulties in implementing the Stockholm Arbitration Order.

In late December, the arbitration court issued a decree obliging Kiev to execute a contract for the purchase of Russian gas, indicating that 4 billion cubic meters of gas are mandatory for purchase under the formula take or pay. In addition, Naftogaz was ordered to pay Gazprom a fine of over 2 billion dollars. Meanwhile, this week, the Stockholm arbitration partially satisfied the claim of the Ukrainian side and recovered from Gazprom $ 4.6 billion for unfulfilled volumes of gas transit. Taking into account counter claims, Gazprom was obliged to Naftogaz 2.56 billion dollars. Moscow has already announced its intention to challenge this decision.




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