Gazprom denies resumption of arrest of N Stream, N Stream 2 shares

MOSCOW, Jul 5 (PRIME) -- The statement of Ukrainian energy holding Naftogaz Ukrainy that a Swiss court has resumed arrest of Russian gas giant Gazprom’s shares in Nord Stream AG and Nord Stream 2 AG is incorrect, Gazprom said in a statement on Thursday.

On Wednesday, Naftogaz Ukrainy said that the Supreme Court of Switzerland’s Canton of Zug has resumed arrest on Gazprom’s shares in the companies.

“The statement of Naftogaz Ukrainy…is incorrect. According to Gazprom’s materials, on June 29, 2018, the Swiss court suspended exemption of shares in Nord Stream AG and Nord Stream 2 AG from a certificate of introduction of provisional measures on Gazprom’s assets in these companies that had been comprised by bailiffs,” Gazprom said.

“The exclusion of shares was suspended for the period of consideration of Naftogaz Ukrainy’s claims that challenge actions of bailiffs.”

The Stockholm arbitration court ruled earlier in 2018 that Gazprom must pay Naftogaz Ukrainy U.S. $2.56 billion for non-shipment of gas.

Gazprom said in June that a court of appeals suspended the ruling and that the company would use the decision as a ground to contest property seizure under the case in Switzerland and the Netherlands. Naftogaz Ukrainy is trying to enforce the arrest.

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