Deputy Minister of Foreign Affairs for European Integration Olena Zerkal said that the Stockholm arbitration court decision is the definite victory, according to which Gazprom’s ‘take or pay’ claim against Naftogaz of Ukraine will be totally dismissed, Zerkal wrote in her Facebook page, EP reports.
“Our main interest in this case is that the gas supplies would be based on the European principles and the rules of gas market functioning. As required by the national legislation, the provisions of the Treaty establishing the Energy Community and the EU-Ukraine Association Agreement. The only company, which aggressively opposes Gazprom”, she said.
“As, under such circumstances, it was impossible to amend the contract through negotiations, the only hope was the legal position of the arbitrators of the Stockholm Arbitration Institute”, the deputy minister said.
According to Zerkal, as per the decision of the arbitrators of Stockholm Arbitration Institute, the ‘take or pay’ claim was fully cancelled (the lion’s share of Gazprom’s financial claims), the re-export ban was cancelled and the price formula was reconsidered.
“It is definitely a victory. The European Integration continues to be valid”, she wrote.
It should be reminded that Naftogaz of Ukraine NJSC received a standalone decision of the Stockholm tribunal in the proceeding against Gazprom under the gas supply contract. Gazprom’s ‘take or pay’ claims against Naftogaz of Ukraine were fully cancelled.
For more details, please read the publication “On eve of Stockholm decision: What can be considered victory for Ukraine in dispute with Gazprom?”
