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You're reading: Naftogaz may demand $5 billion more in compensation from Russia’s Gazprom
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Ukraine’s state-owned oil and gas company Naftogaz could add another $5 billion to its existing $30.3 billion demand for compensation from Russia’s Gazprom, Naftogaz’s chief commercial officer Yuriy Vitrenko has said.

The extra $5 billion would be added to the current $12.3 billion claim for underpayment of transit fees by Russia from 2009 to 2016. The Ukrainian company made its initial demand three years ago when it filed a lawsuit against Gazprom to the the Stockholm arbitration tribunal.

Naftogaz demanded compensation for losses caused by disadvantageous terms of 2009 gas contract, which led to Ukraine overpaying for gas supplies and being underpaid for transit services.

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How can Gazprom appeal a ruling from an arbitration panel? The whole point of using an arbitrator is that both sides agree in advance to abide by the arbitrator's decision, meaning that there can be no appeal.

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