SCC, 22 December 2017, Naftogaz v. Gazprom

In 2014, Gazprom voided discounts previously granted on Gas exports in Ukraine to Naftogaz. In response, Naftogaz filed a request for arbitration before the Stockholm Chamber of Commerce (SCC) for $15 billion, concurrently, Gazprom counterclaimed for the non-payment of Gas orders previously delivered up to $50 billion. On 22 December, the Arbitral Tribunal did not recognize the overpayment of Naftogaz and ordered the reimbursement of $2 billion to Gazprom for the unpaid invoice and to “take or pay” 5 billion cubic meters of gas each year beginning with 2018.

2018-02-18T20:48:46+00:00 December 22nd, 2017|International awards, SCC|0 Comments

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