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What the Stockholm arbitration ruled for Naftogaz
Summary
A look back at the Stockholm arbitration decision on gas transit, issued on 28 February 2018, and a rail contract signed days earlier.
What did the Stockholm arbitration decide for Naftogaz and Gazprom? On 28 February 2018, the tribunal granted Naftogaz's claims for compensation over gas that Gazprom had failed to deliver for transit.
As reported at the time, Naftogaz secured compensation of $4.63bn for Gazprom's failure to supply the agreed volumes of gas for transit. Taking the outcomes of two arbitration proceedings in Stockholm together, Gazprom was required to pay Naftogaz a net $2.56bn.
A separate deal days earlier
Five days before the ruling, on 23 February 2018, Ukrzaliznytsia and the American corporation General Electric signed a seven-year contract worth $1bn. It covered the supply of locomotives and diesel locomotives.
The two items were unrelated, but both concerned Ukrainian state-owned companies in the final days of February 2018.
