Court rejects Gazprom's appeal regarding principle of "take or pay"

Court rejects Gazprom's appeal regarding principle of "take or pay"
  • Clock-gray 23:24
  • calendar-gray 27 November 2019

The Svea County Court of Appeal (Sweden) rejected Gazprom’s complaint on Wednesday about a decision by the Stockholm arbitration court in a dispute with Naftogaz Ukraine about Russian gas supplies to Ukraine regarding the take-or-pay principle, as well as a ban on re-exporting Russian gas, the Naftogaz press service said on Wednesday, APA reports citing TASS.

"The decision on the supply contract was made in two stages. A separate decision was made on May 31, 2017. Gazprom challenged this decision on November 7, 2017. This appeal has been rejected today," the press service said. The Stockholm arbitration on May 31, 2017 also satisfied Naftogaz’s demand to review the contract price taking into account market conditions, the company reminded.

According to Kobolev, hearings on Gazprom’s appeal on the second arbitration decision should be held in February 2020, and the third, on a transit contract, could take place next fall.

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