(MENAFN- UkrinForm) NJSC Naftogaz of Ukraine is compelled to begin a formal enforcement procedure in Europe and is preparing a new lawsuit against Gazprom to recover damages caused by its non-compliance with arbitration awards.
Naftogaz Chief Commercial Officer Yuriy Vitrenko said this at a meeting with EU Commissioner for Competition Margrethe Vestager in Brussels, the Ukrainian company's press service told Ukrinform.
According to the company, Vitrenko informed the commissioner in detail about the decisions taken by the Stockholm arbitration court in two commercial disputes between Naftogaz and Gazprom.
"Vitrenko also informed [Vestager] about Gazprom's actions following the announcement of the final award which obliged Gazprom, i.a., to pay $2.6 billion to Naftogaz in damages and to resume gas supply to Ukraine on revised terms. At this point, Gazprom refuses to comply with the awards. Given the Russian counterparty's position, Naftogaz is compelled to start a formal enforcement procedure in Europe and prepares a new claim to recover damages incurred because of Gazprom's failure to comply with the awards," reads the statement.
In 2017, Naftogaz submitted its observations regarding Gazprom's proposed commitments in the separate antitrust case opened by the European Commission against Gazprom in 2012 concerning the EU's Central and Eastern European gas markets.
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