Payment conditions
NJSC Naftogaz Ukraine can pay off the gas debt to Gazprom at a temporary price prior to the decision to be passed by the court of arbitration, as stated by the Ukrainian party in relation to the recent negotiations with Gazprom and the Russian Federation about gas issues, according to the information distributed by the press-office of NJSC Naftogaz Ukraine.
The proposals specify the period prior to the date of the arbitration decision, saying that the debts can be paid by the Ukrainian party only at a temporary price that is calculated as follows: the gas price will equal the price of gas at the European gas stocks (hubs) minus costs of transportation from the border of the Russian Federation to the hubs.
“This approach is fair taking into account that the Ukrainian party filed the suit filed to the arbitration court against Gazprom for return of the surplus payment for gas supplied in the previous periods (around $6 billion), - the message says.
This decision, according to Naftogaz Ukraine, also meets the core criteria: it is based on the principles of fairness and market approach, regulations and best practices for payment of bills disputed by the parties.
