Home › World › What did Stockholm's gas ruling mean for Naftogaz?
What did Stockholm's gas ruling mean for Naftogaz?
Summary
A retrospective on the Stockholm arbitration decision in the Naftogaz–Gazprom transit dispute, and a rail deal signed days earlier.
What did the Stockholm arbitration actually award Ukraine? On 28 February 2018, the Stockholm arbitration upheld claims by Naftogaz for compensation over gas that Gazprom had failed to deliver for transit.
As reported at the time, Naftogaz secured compensation of 4.63 billion dollars for Gazprom's failure to supply the agreed volumes of gas for transit. The figures were reported as the outcome of two separate arbitration proceedings in Stockholm. Taken together, the net result was that Gazprom was to pay Naftogaz 2.56 billion dollars.
A rail contract days earlier
Five days before the ruling, on 23 February 2018, Ukrzaliznytsia and the American corporation General Electric signed a seven-year contract worth one billion dollars. It covered the supply of locomotives and diesel locomotives.
The two items were unrelated, but both were reported in the same week and involved major commercial agreements or rulings affecting Ukrainian state-owned companies.
