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.

14:00 / 27 November, 2019

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