Experts calculating Gazprom compensation from Stockholm arbitration court ruling
Experts are calculating compensation amounts for Ukraine based on the decision of the Tribunal at the Arbitration Institute of the Stockholm Chamber of Commerce in the case involving NJSC Naftogaz Ukrainy and Russia's Gazprom gas monopoly, Naftogaz CEO Andriy Kobolev has said.
"The final amount will be the product of the work of experts during three working months. The amount will then be included in the final verdict of the tribunal," Kobolev said during an interview with TV Channel 5 aired on Sunday evening.
Kobolev said Ukraine had not compensated Gazprom for more than $2 billion of gas purchases, according to the older, inflated price.
"We did not pay Gazprom for gas acquired in previous times for the sum of around $2.2 billion. No we will be able to say exactly how much compensation will receive for what volumes of gas paid for since 2014. That amount will be decreased significantly," he said.
The amount of decrease, according to Kobolev, will only be known after the tribunal's decision.
As reported, on May 31 the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce in the dispute between Naftogaz Ukrainy and Gazprom gave Naftogaz a right to demand a reduction in the gas price under a contract with the Russian monopolist based on market conditions, and also canceled the requirements of Gazprom to NJSC Naftogaz Ukrainy based on the principle "take or pay" and completely canceled the ban on Ukraine's re-export of gas.
