Naftogaz expects Stockholm arbitration decision on Gazprom by the end of H1 2017

Naftogaz Commercial Director Yuriy Vitrenko wrote this on his Facebook page.

According to him, a hearing at the Stockholm Chamber of Commerce will begin next month.

“Our position is very strong, as indicated by the fact that even [Russian President Vladimir] Putin with Gazprom had to change their favorite statements that from 2020 our gas transportations system will not be needed for the transit of their gas. You understand that Putin would not give up his favorite propaganda thesis that Russia will not depend on Ukraine. But we consider this change by Putin and Gazprom as a legal trick. We are confident that we will prove it in arbitration,” Vitrenko said.

According to him, the arbitration decision is expected by the end of the first half of next year. The decision on the gas purchase contract could be issued earlier, by the end of the first quarter.

"Gazprom would have to execute this decision immediately. The comparison with Yukos' claim is inappropriate. Gazprom's assets are not protected by national sovereignty and it has enough assets in Europe that could be used for penalty," Vitrenko said.

A reminder that during a hearing at the Arbitration Institute of the Stockholm Chamber of Commerce, Naftogaz filed claims totaling $26.6 billion against Gazprom.

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