Gazprom increases claims to Naftogaz to $37 bln

Russia`s gas monopoly Gazprom has increased from $31.7 billion to $37 billion its claims in Stockholm Arbitration against National oil and gas holding company Naftogaz of Ukraine, according to RIA Novosti, referring to Gazprom`s report.

The Arbitration Institute of the Stockholm Chamber of Commerce is expected to hand down the ruling on claims of Russia`s Gazprom and Naftogaz of Ukraine on June 30, RIA Novosti reports.

Gazprom and Naftogaz have been in litigation in the Swedish Arbitration since June 2014. The lawsuits concern contracts for gas supplies from Russia to Ukraine and gas transit via the Ukrainian territory starting 2009.

It was reported earlier that Gazprom in June 2014 filed an arbitration request with the Arbitration Institute of the Stockholm Chamber in order to recover from Naftogaz the debt for the 2013-2014 gas supplies, as well as funds under the ”take or pay” formula.

For its part, Naftogaz filed a lawsuit regarding retroactive price changes, reimbursement of overpayments and the abolition of re-export ban. The court united both claims into a single proceeding.

According to the annual report by Naftogaz of Ukraine, the mutual claims of Gazprom and Naftogaz under the gas purchase and sale contract amount to about $45.7 billion and $17.9 billion, respectively.

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