Gazprom loses appeal against Stockholm arbitration resolution in the disputevs Naftogaz
The Svea County Court of Appeal rejected Gazprom’s appeal, filed on November 7, 2017, against a separate Stockholm arbitration resolution in a gas supply case between Naftogaz and Gazprom.
In a separate resolution, adopted on May 31, 2017, the Stockholm Chamber of Commerce Tribunal completely rejected Gazprom’s claims on «take or pay» provision. In addition, the tribunal has determined that Naftogaz is entitled to adjust the price formula to suit the market situation. Also, the May 2017 decision lifted the ban on gas re-export.
The Court of Appeal rejected Gazprom’s claims against the decision and upheld it. Oral hearings on Gazprom’s appeal against the second arbitration award (the final in the gas purchase case) are expected in February 2020. Appeals hearings for the third decision (on the transit contract) are scheduled for next fall.
Arbitral awards remain valid and enforceable, despite the appeal process. Such decisions will become void only in the case and after the appeal is satisfied. Law firms Gernandt & Danielsson and Wikborg Rein provided legal support.
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ODESA OFFSHORE CONFERENCE-2019
Ukraine has every chance to resume the work of the most promising oil and gas region, the Southern oil&gas fields. The untapped deposits of oil and gas are located both onshore and subsea. Four companies have already poised to conclude Production Sharing Agreements with Ukraine, whilst bidding for the Dolphin oil&gas fields on Black Sea shelf. The Odesa Offshore Conference (OOC2019) will serve as a venue for Ukrainian and international bidders to meet with local and international drilling, oilfield service and equipment manufacturers to kick-off emerging subsea and onshore projects in Ukraine.
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Carpathian Oil&Gas Conference-2019
The development of oil&gas industry, introduction and implementation of new E&P technologies, stimulation, workovers &recovery of oil&gas wells will be among upstream focal points of the FIRST DAY of COGC2019 - 23 May. The SECOND DAY of Conference will be devoted to midstream, downstream, and trade in hydrocarbons, to spotlight the nowadays dynamics and robust changes in the Ukrainian oil&gas market. The Ukrainian Gas Market day of 24 May 2019 will become a marketplace venue for natural gas traders and natural gas transmission & distribution companies to meet and discuss prospective deals in the UAH 200 billion natural gas market of Ukraine.