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6Apr/10Off

Arbitration tribunal of SCC ordered USD 197 Million in favor of RosUkrEnergo

The tribunal of the Arbitration Institute of the Stockholm Chamber of Commerce has issued a intermediate decision on RosUkrEnergo's case against National Joint Stock Company “Naftogaz Ukrayiny” for approximately USD 2 million,  www.rbc.ua reports. The court has ordered the Ukrainian state company to return USD 197 million to RosUkrEnergo. RosUkrEnergo alleged, that Naftogaz took 11 billion cubic meters of gas in Ukrainian underground gas storage facilities from RosUkrEnergo.

Naftogaz does not recognize and of RosUkrEnergo's demands and submitted several claims with detailed explanations of its position against the company.

RosUkrEnergo sued Naftogaz in April 2008. In January 2009, the company filed another three suits against Naftogaz in Stockholm. In reply, Naftogaz filed four counter-suits. All of these cases have been united into one case.

Posted by Konstantin Pilkov, MCIArb

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