Swedish Court To Review Gazprom Appeal On Rulings In Dispute With Naftogaz On Nov. 27

The Court of Appeal of Svea County in Sweden will hold on November 27 preliminary hearings on Russian energy giant Gazprom's appeal against Stockholm arbitration court rulings in gas dispute with Ukraine's Naftogaz energy company, according to Gazprom's Eurobond offering statement released on Friday.

MOSCOW (UrduPoint News / Sputnik - 09th November, 2018) The Court of Appeal of Svea County in Sweden will hold on November 27 preliminary hearings on Russian energy giant Gazprom's appeal against Stockholm arbitration court rulings in gas dispute with Ukraine's Naftogaz energy company, according to Gazprom's Eurobond offering statement released on Friday.

"Gazprom disputes both the preliminary and the final decision of the arbitration on gas supplies in the court of Svea county [Sweden]. Preliminary hearings on appeal are scheduled for November 27," the document says.

The Stockholm arbitration in December and February ruled on the disputes between Gazprom and Naftogaz regarding contracts for the supply and transit of gas, respectively, obliging the Russian company to pay the Ukrainian company $2.56 billion as a result.

Gazprom said that these decisions created an imbalance in favor of Kiev, and announced intentions to appeal the court rulings as well as to terminate all existing contracts with Naftogaz.