Kiev: Stockholm crt cancels Gazprom’s take-or-pay for Ukraine

KIEV/MOSCOW, May 31 (PRIME) -- The Stockholm arbitration court has ordered Russian gas giant Gazprom to cancel the take-or-pay condition in a long-term gas contract with Ukraine, allowed Kiev to re-export gas, and ordered a revision of the gas price retroactively from 2014, Ukraine’s Deputy Foreign Minister Yelena Zerkal said on her Facebook page on Wednesday.

“Their position on key issues is as follows: the take-or-pay condition (the lion share of Gazprom’s claims) should be completely abolished; the ban on re-exports should be fully lifted; the pricing formula should be revised starting from 2014,” she said.

Ukrainian energy holding Naftogaz Ukrainy confirmed that the take-or-pay condition has been lifted.

Sergei Kuznets, a deputy head of a Gazprom’s department, said the company received the interim decision of the court and is studying it.

“Indeed, we have just received the interim decision of the arbitration court. It is mainly devoted to settlement of principal legal issues and does not contain any figures. It is quite large, it consists of 790 pages, we are now analyzing it in order to make conclusions,” he said.

The Russian and Ukrainian companies have been litigating since 2014 over contracts on gas supplies to Ukraine and gas transit across Ukraine.

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