Gazprom can initiate one more claim against Naftogaz Ukraine for $18 billion

Gazprom can initiate one more claim against Naftogaz Ukraine for $18 billion in Stockholm arbitration court, the chief of Gazprom A. Miller says. The claim can be initiated for the uncollected gas volume in accordance with the active contract; these are the ‘take-or-pay’ clauses for 2012-2013 at a rate of $11.7 billion, $18 billion in the total.

On Monday, Gazprom announced about an appeal to Stockholm arbitration court with a suit against Naftogaz Ukraine about thecharging of the debt. The decision was made due to continuous non-payment by the Ukrainian company. Overdue payment for the Russian gas was $4.458 billion, including $1.451 billion for November – December 2013 and $3.007 billion for April – May 2014. Gazprom has introduced the advance payment mode for gas supplies to the Ukraine. The decision won’t influence Russian gas supplies to Europe