Andriy Kobolev, the CEO of Ukraine`s state-owned oil and gas company Naftogaz, does not consider the possibility of reaching an amicable agreement in gas dispute with the Russian gas monopoly Gazprom in the Stockholm arbitration court.
”There were no attempts of a settlement agreement, and it is impossible in this situation, since there is a great difference in the parties` positions, and this very arbitration is so important and significant, so I would not expect any settlement in this particular case,” Kobolev said on one of TV channels.
Naftogaz has initiated litigation against Gazprom in the Arbitration Institute of the Stockholm Chamber of Commerce in relation to two contracts. One concerns transit shipments of Russian gas to the European Union via Ukraine and the other one deals with purchases of Russian gas by Ukraine.
In mid-March 2016, Gazprom raised its claims against Naftogaz in the Arbitration Institute of the Stockholm Chamber of Commerce to $31.759 billion from $29.2 billion.
According to Naftogaz`s annual report, the amount of claims against Gazprom as of July 31, 2016 amounted to $28.3 billion.
In mid-October of this year, the Arbitration Institute of the Stockholm Chamber of Commerce completed oral hearings of the proceedings over mutual claims by NJSC Naftogaz of Ukraine and Russian gas monopoly Gazprom. The court also heard experts and witnesses of the proceedings.
The Stockholm arbitration is expected to deliver its final decision on the case by March 31, 2017.
See also: Naftogaz CEO: Ukraine may buy Russian gas but only on its own terms