The conflicts over gas supplies are getting tenser. Recently, the Russian Gazprom lost a case in the Stockholm arbitration court and was fined $4.673 billion, $2.46 billion of which are due to be paid to the Ukrainian Naftogaz. Initially, the Ukrainian company wanted $17 billion but the court accepted only a part of these claims and ordered Gazprom to pay $4.673 as it kept the transit of gas to Europe at the lower levels than agreed. In its turn, Naftogaz also owes the Russian gas company a certain sum for breaking the supplies contract. Thus, arbitrators offset counter claims and ruled that Gazprom has to pay $2.46 billion.
Surely, Gazprom’s lawyers object to the ruling of the Stockholm arbitration court and are going to appeal against it. The company intends to use all available tools and resources for protecting its rights. That is why it is premature to draw conclusions. The legal proceedings may be extended. Besides, the Russian side noted imbalances in the agreement on supplies and transit of gas with Naftogaz that emerged from two lawsuits in the Stockholm court. Gazprom says that it breaks the basic principles of the Swedish law that regulates the contract.
