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Naftogaz demands Gazprom to compensate 34% for emergency gas purchases from Europe

Naftogaz demands Gazprom to compensate 34% for emergency gas purchases from Europe

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NAK Naftogaz-Ukraine demands Russia’s Gazprom to compensate it for the 34% overpayment on emergency gas purchases from Europe in March. The Chief Commercial Officer of NAK Naftogaz-Ukraine Yuriy Vitrenko has posted this on his Facebook page, 112.ua reports.
“According to the preliminary statistics, the weighted average price of gas from European suppliers in March of the current year exceeded the Gazprom’s price (after it has been reduced in accordance with the ruling of the Stockholm Court of Arbitration) by 33.9%. The amount overpaid will be invoiced to Gazprom for compensation”, - Vitrenko wrote.

According to Vitrenko, now Gazprom is supposed to compensate for the non-compliance to its contractual obligations regarding gas shipments in March, of which it has been officially notified.
After the Stockholm Court’s ruling not in its favor, Gazprom announced its intention to terminate the agreement on gas supply and transit with NAK Naftogaz-Ukraine.

On 28 February, the Stockholm Court of Arbitration satisfied Naftogaz’s claim to be compensated $4.63 billion by Gazprom for its underdelivery of gas for transit. Also, Gazprom was ruled to pay $2.56 billion to Naftogaz. The amount outstanding is subject to an interest of $526,000 daily from 1 March.
However, Gazprom opposes the ruling of the Stockholm Court of Arbitration to compensate Naftogaz.
On 1 March, Gazprom said that Naftogaz-Ukraine has prepaid the renewal of Russian gas deliveries from March. At the same time, Gazprom refunded the money, noting that it is caused by a lack of an agreed addendum to the current contract. Naftogaz called Gazprom's refusal to supply gas a violation of the agreement and failure to comply with the arbitration decision.

Later, on March 2 Naftogaz-Ukraine called on Ukrainians to lower the temperature in offices and households by 1-2 degrees in order to reduce the overall gas consumption.
the Ministry of Energy and Coal Mining made a shift for generating companies from gas to fuel oil, suspended service of elementary educational establishments, schools and universities, advised enterprises to revise their business plans so that to achieve greater gas saving.
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