| Author (Person) | Rocha, Frederico |
|---|---|
| Publisher | Cardiff EDC |
| Series Details | March 2018 |
| Publication Date | 02/03/2018 |
| Content Type | News |
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Further information: The decision was made following the court in Stockholm decided the Russian company would have to pay €2.03 billion to Naftogaz for failing to deliver an agreed-upon volume of so-called 'transit gas'. The move not only marked an escalation in a multi-year dispute between Russia and Ukraine, but also led to concerns about downstream gas supplies to European countries. Following a series of contacts, the European Union was reassured that gas transit would not be affected. Ukrainian President Petro Poroshenko said that Russia’s Gazprom had no legal right to unilaterally cancel gas supply and transit contracts with Ukraine and expressed confidence that the contracts would stay in force. Russian company Gazprom launched on 3 March 2018 procedures in the Stockholm international arbitration court to terminate its gas supply contracts with Ukrainian gas company Naftogaz. The announcement appeared as Ukraine informed the European Union of a potential emergency situation in the country's Gas Transmission System (GTS) over a deficit of natural gas supply from Gazprom. |
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| Subject Categories | Energy |
| Countries / Regions | Russia, Ukraine |
