Arbitration court in Stockholm is expected to hear the court case pitting Naftogaz Ukrainy against RosUkrEnergo (RUE) in January 2010, Naftogaz said in its 2008 financial statement.
“The arbitration verdict is expected by April 1, 2010,” the statement says.
RUE’s has the weightiest claims against Naftogaz. However, the
company has not disclosed the size of the those claims, just the total
amount of claims, UAH 17.5 billion (UAH 7.98 /$1 on September 2).
RUE is seeking compensation for Naftogaz’s late payment for natural gas, the resulting losses and legal fees.
Naftogaz has filed a countersuit against the Switzerland-based gas
trader and will file others. Stockholm arbitration has combined all the
claims into one case.
Naftogaz reported that the dispute with RUE would go to Stockholm
arbitration at the end of March. Naftogaz First Deputy CEO Ihor Didenko
said RUE was claiming penalties and fines of $600 million, $55 million
and $20 million. Naftogaz filed a countersuit seeking $62 million and
$118 million, as well as compensation for violations of transportation
and storage contracts.
Naftogaz said RUE had not filed a suit in Stockholm court concerning
Naftogaz’s ownership of 11 billion cubic meters of natural gas the
previously belonged to RUE.
