Gazprom has billed Naftogaz Ukrainy $5.3 billion for not accepting contracted take-or-pay provisions for gas.
If that amount is included in the earlier declared claims in the Stockholm arbitration case, the amount of claims in the case of fulfilling the contract on supplies will grow to $37 billion, which makes up more than half of Gazprom’s capitalization of $61 billion.
“Gazprom sent Naftogaz Ukrainy a bill to pay for gas which was not accepted by the Ukrainian company in Q2-4 2016 under take-or-pay provisions. According to the current contract between Gazprom and Naftogaz Ukrainy for the purchase and sale of natural gas, the Ukrainian company was required to pay a minimum annual amount of gas every year. According to the conditions in the contract, Naftogaz Ukrainy was presented with a bill for $5.319 billion. Ukraine is required to pay the amount in the next ten days”, Gazprom’s press office said.
In Q1 2016 Naftogaz Ukrainy did not use take-or-pay conditions in accordance with trilateral winter packages. (Interfax/Business World Magazine)
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