Russia, Ukraine to Discuss Latest Gas Dispute
Russia, Ukraine to Discuss Latest Gas Dispute

Russia, Ukraine to Discuss Latest Gas Dispute

Russia, Ukraine to Discuss Latest Gas Dispute

Ukraine’s state-held gas company Naftogaz and Russia’s gas giant Gazprom will meet by the end of March to discuss the new dispute over gas supplies between the two countries, the Ukrainian company said on Twitter.
At the end of February, the Stockholm arbitration court ruled in favor of Naftogaz in the payment dispute with Gazprom, ordering the Russian company to pay Naftogaz $2.56 billion for failing to supply Ukraine with the agreed amount of natural gas over a period of several years and also for failing to pay the full transit fees for the gas it did pump in that direction, Oil Price reported.
Hours after the court ruling, a fresh gas dispute flared up after Naftogaz said Gazprom had not stood by its commitment to resume gas supplies, forcing Ukraine to reduce gas usage amid Arctic temperatures. The new rift comes after years of bitter disputes between the gas companies of Russia and Ukraine, exacerbated by the 2014 Russian annexation of Crimea.
Gazprom expressed its disagreement with the Stockholm arbitration ruling and said, “Gazprom will defend its rights through all means available under applicable legislation.”
The Russian firm wants to terminate the contracts with Naftogaz, while the Ukrainian company said on Twitter that it “sees no need to cancel the contracts” and at the upcoming meeting by the end of March, the parties would discuss Naftogaz’s proposal to revise the transit tariffs.
The Stockholm court ruling will also be discussed, Naftogaz said, adding that it expects payment.
"Gazprom believes the Stockholm arbitration tribunal handed down an asymmetrical ruling that undermined the balance of interests between the parties to the two contracts –the contract for gas supplies to Ukraine and the transit contract,” Alexey Miller, chairman of Gazprom Management Committee, told Russian Prime Minister Dmitry Medvedev earlier this week.


Short URL : https://goo.gl/MyWojG
  1. https://goo.gl/NuDPVg
  • https://goo.gl/Tox78A
  • https://goo.gl/CjA4mE
  • https://goo.gl/3bjS9R
  • https://goo.gl/hQTPdG

You can also read ...

Norway Intends to Build First Offshore Floating Wind Farms
Norway’s Petroleum and Energy Minister Terje Soviknes will...
Venezuela Oil Production May Soon Sink to 1m bpd
Venezuela’s plummeting oil production is nearing the...
GAP envisages the construction of 22 dams and 19 power plants.
Turkey is taking advantage of its abundant supply of ...
OPEC+ to Discuss Q3 Output Surge
The planned increase of crude production by OPEC+ nations of 1...
Egypt Hikes Fuel Prices by 50 Percent
Egypt has raised gasoline prices by up to 50%, its oil...
US-Saudi  Oil Increase  Plan a Ploy Against OPEC
The US political pressure on Saudi Arabia to boost oil output...
Oil Ministry to Modify Contracts With Domestic Parts Producers
The Oil Ministry plans to modify the contracts it had earlier...

Add new comment

Read our comment policy before posting your viewpoints