Association of students and young professionals

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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