You're reading: Kyiv waiting for interim decision of Stockholm Arbitration Institute on gas conflict with Russia by late 2014

Kyiv is waiting for an interim decision of the Stockholm Arbitration Institute on gas contracts by the end of this year, which will allow Ukraine to receive Russian gas at the interim price, Justice Minister of Ukraine Palvo Petrenko has said.

He said on the Ukraina TC channel late on Wednesday, Aug. 6 that Ukraine
demands to set the fair price of gas and compensate the overpayment of
$6 billion.

“The case can be heard in arbitration institute for one or two years
on average, but we have a good prospect of receiving the interim
decision by the end of the year. It would define the liabilities of
Russia to supply gas to Ukraine at the certain interim price,” the
minister said.

Petrenko said that the Ukrainian claim was united with the claim of Russia’s Gazprom.

“Really, this merger will accelerate the procedural hearing of the case,” he said.

Naftogaz Ukrainy on June 16 filed a suite with the Arbitration
Institute of the Stockholm Chamber of Commerce demanding that a fair
price be set for the gas which Gazprom supplies to Ukraine. Ukraine also
demanded that $6 billion in overcharges for the gas which Gazprom has
been exporting to Naftogaz since 2010, be repaid.

Earlier in the same day Gazprom started an arbitration procedure in
Stockholm against Naftogaz, demanding that it repay $4.5 million in
debts for the gas already delivered.

The counter-claims were merged into one case in Stockholm.