Gazprom and Naftogaz to sign claims settlement agreement

Gazprom and Naftogaz, according to the protocol on gas cooperation signed on the eve of Russia and Ukraine, will sign an agreement on the settlement of mutual claims, the head of Gazprom Alexei Miller told reporters and the company representative explained. "In accordance with the protocol on gas cooperation, Gazprom and Naftogaz will sign an agreement on the settlement of mutual claims under existing contracts, thus balancing the interests of the parties," said Alexey Miller.

Gazprom and the Ukrainian government will sign an amicable agreement to withdraw the claim of the Antimonopoly Committee of Ukraine, "Miller also said. In December 2017 and February 2018, the Stockholm arbitration court ruled on disputes between Gazprom and Naftogaz regarding gas supply and transit contracts, ultimately obliging the Russian company to pay $ 2.56 billion to the Ukrainian company. Gazprom appealed against them in March 2018, and in May it demanded the complete cancellation of the “transit” decision. Also in April 2018, Gazprom sent documents to the Stockholm Arbitration to terminate contracts with Naftogaz for the supply and transit of gas, valid until the end of 2019. In addition, the antimonopoly committee of Ukraine fined Gazprom nearly $ 7 billion, considering the company abusing its monopoly on the country's gas transit market. Also, in April, Kiev filed a complaint with the EC about Gazprom’s anti-competitive behavior related to the construction of Nord Stream-2 and the alleged ban on virtual re-export.

Earlier, in the framework of negotiations on the gas issue with Ukraine, Russia proposed a “zero option” for resolving disputes, implying a mutual rejection of all claims. The head of Naftogaz, Andrei Kobolev, calculated a total of Kiev’s claims against Gazprom for $ 22 billion and stated that counter measures of the Russian side for comparable amounts were needed to nullify them. This amount included nearly $ 3 billion under the Stockholm decision, a lawsuit for another $ 12 billion, a fine of the Antimonopoly Committee of Ukraine against Gazprom for about $ 7 billion.