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Gazprom not to appeal Stockholm verdict in Naftohaz dispute

The verdict was issued in late December.

The Russian gas monopoly Gazprom will not appeal against the decision of the Stockholm arbitration on the dispute with Ukraine's national oil and gas company Naftohaz Ukrayiny about the gas supply contract, Gazprom's deputy COB, Aleksandr Medvedev, said Monday as quoted by Interfax-Ukraine.

Meanwhile, after the arbitrate on 31 May 2017 delivered an interim (separate) decision on some fundamental issues, Gazprom on 7 November filed an application to the Appeal Court of Svea County (Sweden) to challenge the decision and sought its partial cancellation.

The final decision was issued in late December.

"There is nothing new there. The arbitration decision went into effect. Why appealing?" said Medvedev.

On 31 May 2017, the Stockholm appellate fully satisfied Naftohaz's lawsuit against Russia's Gazprom over the 2009 contract for the supply of gas to Ukraine on the take-or-pay principle. The court ordered a change of the provision of the contract on the take-or-pay principle and cancelled the ban on Ukraine's re-export of gas.

Naftohaz is also entitled to compensation due to overpayment for gas in Q4 2014 and in 2015. Gazprom, in turn, will be able to receive an additional payment for gas supplies in Q2 2014.

The arbitration award on the transit contract is expected on 28 February 2018.

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