Naftogaz asks Gazprom to adjust the contract to Ukraine’s Energy Law

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Naftogaz-Ukraine sent Gazprom a letter concerning voluntary adjustment of the contract under Ukraine’s Energy Law. Naftogaz intends to raise this question again. Yuriy Vitreko, the Director for Business Development at Naftogaz, said it in the briefing, broadcasted by 112 Ukraine.
“We wrote a letter to Gazprom, where we propose to discuss the ways of Arbitration’s decision implementation, during the negotiations we will raise a question concerning voluntary adjustment of the contract under Ukraine’s Energy Law. We have done it before. Gazprom refused. We appealed to Arbitration. The Arbitration informed us that it’s not their task to insist on Ukraine’s Energy Law imposing through the contract change. They said that there is an agency responsible for that in Ukraine. We raise this question again with Gazprom. It’s possible, that Gazprom had second thoughts and they will agree to change the contract according to Ukraine’s Energy Law,” he said.

Today Alexey Miller, the Head of the enterprise, stated, that Gazprom forwarded an official notification to Naftogaz about gas contracts termination through the Stockholm Arbitration.
As we reported earlier, after the ruling of the nnounced its intention to terminate gas contracts with Naftogaz Ukraine.
The Arbitration Institute of the Stockholm Chamber of Commerce has granted the lawsuit of Naftogaz as to compensation for the volumes of transit gas that had not been delivered by Gazprom on February 28. According to the decision of the court, Naftogaz got a $4,63 billion compensation for the transit gas that had been agreed on, but not delivered by Gazprom. As a result of two arbitrations in Stockholm, Gazprom is to pay Naftogaz $2,56 billion. The court dismissed the demands of Gazprom that stated that the money hadn’t been paid as it was considered the fines for what they called unlawfully seized by Naftogaz volumes of the transit gas. $526 000 of interest per day will be added to the debt from March 1.
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