Naftogaz expects decision in Stockholm arbitration with Gazprom appear late 2016 or early 2017
National joint-stock company Naftogaz Ukrainy anticipates that the Arbitration Institute of the Stockholm Chamber of Commerce will make a decision in lawsuits with Russia's Gazprom late 2016 or early 2017, Naftogaz Head Andriy Kobolev said on Channel 5 TV late on Monday.
"We assess the total cost of the two lawsuits for Ukraine, the potential gains that we could receive, is around $50 billion. This is both for the contract to buy gas and the gas transit contract. This is a strategic issue for us. We hope that at the end of this year or early next year we will be able to bring final decisions in the two lawsuits to Ukraine," he said.
Kobolev added that Ukraine opposed Gazprom's proposal to unite two lawsuits into one.
"We believe that independent lawsuits speed up the process and increase the likelihood of success for us… The Arbitration Institute backed Naftogaz in this matter," he said.
