Friday, May 16, 2025
Caspian Barrel
Advertisement
  • Azerbaijan
  • Russia
  • Kazakhstan
  • Turkmenistan
  • Iran
  • İnteresting News
  • Green energy
  • Vacancy
  • About Us
  • Azərbaycan
  • English
  • Русский
No Result
View All Result
  • Azerbaijan
  • Russia
  • Kazakhstan
  • Turkmenistan
  • Iran
  • İnteresting News
  • Green energy
  • Vacancy
  • About Us
  • Azərbaycan
  • English
  • Русский
No Result
View All Result
Caspian Barrel
No Result
View All Result

Gazprom denies resumed arrest of Nord Stream and Nord Stream 2 shares

09/07/2018
Нью-Йорк подал в суд на 5 крупнейших нефтяных корпораций из-за изменения климата
0
VIEWS
Share on FacebookShare on Twitter

The statement made by Naftogaz of Ukraine that the court in Zug, Switzerland, resumed arrest of Gazprom’s shares in Nord Stream AG and Nord Stream 2 AG is not consistent with the reality, the Russian gas holding said on Thursday.

According to Gazprom, on June 29, 2018, the Swiss court only suspended exclusion of Nord Stream and Nord Stream 2 AG shares from the list of assets subjected to injunctive remedies, prepared by court bailiffs. “Exclusion of shares is suspended for the period for consideration of the statement of Naftogaz of Ukraine that disputes actions of court bailiffs,” Gazprom said.

The court of the Canton of Zug issued a ruling on May 29 regarding the injunctive remedies applying to Gazprom’s assets in Nord Stream and Nord Stream 2 AG upon the application of Ukraine’s Naftogaz attempting to enforce the decision of Stockholm Arbitration.

However, the bailiffs of the Canton of Zug made a conclusion after visiting offices of Nord Stream and Nord Stream 2 AG that shares are not in corporate offices and cannot be arrested, and excluded securities from the list of assets to be seized.

Naftogaz of Ukraine said the day before that the court in Switzerland resumed the arrest of Gazprom’s shares in Nord Stream and Nord Stream 2 AG.

Gas dispute

Gazprom and Naftogaz of Ukraine plunged into a litigation over gas supplies and transit contracts with the Arbitration Institute of the Stockholm Chamber of Commerce back in 2014.

Gazprom is demanding more than $37 bln from the Ukrainian company for gas under the take-or-pay clause for 2012-2016, for the payment for gas supplied in May-June 2014 and gas debts.

In December 2017, the court ordered Naftogaz to pay Gazprom $2 bln for the deliveries, but reduced the annual contractual volume of purchases to 5 billion cubic meters. At the same time, the “take or pay” condition was preserved for 80% of this volume. This condition will be effective only in 2018.

As for the gas transit contract, in February 2018, the Stockholm court ruled that Gazprom’s obligation will remain (110 billion cubic meters per year). The Russian company should also pay $2.56 bln to Naftogaz for the shortfall in transit volumes.

In March, Gazprom returned Naftogaz prepayment for the March deliveries and notified the Ukrainian company that it was going to start the procedure of termination of contracts. This procedure can take 1.5-2 years.

Gazprom CEO Alexei Miller noted that, guided by double standards, the Stockholm court took asymmetric decisions, which significantly violated the balance of interests of the parties under the agreements.

In April, Naftogaz announced that it was starting the procedure for compulsory execution of the Stockholm court’s decision on the dispute with Gazprom in Europe and was preparing a new claim demanding compensation for losses caused by non-execution of the arbitration decisions by Gazprom.

In late May, Gazprom send an application for complete reversal of the decision taken by the Stockholm Arbitration in the dispute between Gazprom and Naftogaz of Ukraine over the gas transit contract to the Svea Court of Appeal.

The conclusion of the expert linguist on the authorship of the arbitration decision on transit is a new evidence of serious violations of the Swedish law and arbitration regulations of the Stockholm Chamber of Commerce in consideration of this case, providing grounds for its complete reversal, Gazprom noted.

Tass.com

 

Tags: Nord StreamNord Stream -2ГазпромНафтогаз

Related Posts

Finland’s Gasum terminates Gazprom pipeline gas contract
Russia

Finland’s Gasum terminates Gazprom pipeline gas contract

22/05/2023
“Gazprom” reduced exports to non-CIS countries by 44.5 percent
Russia

“Gazprom” reduced exports to non-CIS countries by 44.5 percent

05/12/2022
Analysis: Exposed Europe steps up energy defences after Nord Stream ‘sabotage’
İnteresting News

Analysis: Exposed Europe steps up energy defences after Nord Stream ‘sabotage’

01/10/2022
Gas leaks in Russian pipelines to Europe stoke sabotage fears
Russia

Gas leaks in Russian pipelines to Europe stoke sabotage fears

27/09/2022
Gazprom’s production fell by 36 bcm in seven months
Russia

Gazprom’s production fell by 36 bcm in seven months

03/08/2022
Молдавия начнет закупать российский газ по повышенной цене
Russia

In July, Moldova will buy Russian gas for $980

01/07/2022
Please login to join discussion
WTI Crude Price
Brent Crude Price

Vacancy

International Company is looking for a K951-ESG-Tech Prof-Completions, Assoc

16/05/2025
Vacancy

International Company is looking for a FRS09-ESG-Geoscientist II

16/05/2025
Vacancy

International Company is looking for an Assoc Tech Prof.-Cementing

16/05/2025
MOSCOW, RUSSIA - JULY 7, 2020: A fuel attendant works at a Rosneft petrol station. Sergei Fadeichev/TASS

Россия. Москва. Сотрудник автозаправочной станции компании "Роснефть". Сергей Фадеичев/ТАСС
Azerbaijan

Fuel expenses of Azerbaijan’s population rose by 7% in Jan.-Apr. 2025

14/05/2025
Vacancy

SOCAR Polymer LLC is looking for a Process Safety Team Leader

12/05/2025
Vacancy

PD&MS Group is looking for a Project Manager

11/05/2025
Vacancy

PD&MS Group is looking for a Contract Manager / SPA

11/05/2025
Vacancy

PD&MS Group is looking for a Lead Designer (Baku)

11/05/2025
Vacancy

International Company is looking for a Technical Advisor, PSL- Sales, Prin

06/05/2025
Vacancy

International Company is looking for an INSITE Spec-SDL, Jr (SV06-ESG)

06/05/2025

No Result
View All Result
  • Azərbaycan
  • English
  • Русский
  • Azerbaijan
  • Russia
  • Kazakhstan
  • Turkmenistan
  • Iran
  • İnteresting News
  • Green energy
  • Vacancy
  • Contact

© 2014 - 2024 CaspianBarrel - Xəzərin neft və qaz xəbələri.