Investor Presentaiton
Case description
Maximum value
of claims,
Naftogaz
US$
44.3 bn
US$
126bn
Maximum value
of claims,
Gazprom
US$
81.4 bn
Historical victory for Ukraine: Stockholm Arbitration
Key results of the Arbitration on gas supply contract
Gazprom's claims
485
US$ per
Contract gas price
In Q2 2014
352
Value of the total
claims of c.US$ 126bn
tcm
US$ per
tcm
56
US$ bn
Gazprom's take-or-pay
(TOP) claims
0
US$ bn
Tribunal's decision
Gas price for Q2 2014
reduced
ToP provisions declared
invalid and the claims
based on ToP provisions
fully rejected
US$
2.6bn
52
bcm
Minimum annual contract
volume obligations
5
bcm
Minimum annual contract
volume obligations
reduced to actual needs
CADLR
To pay for gas allegedly
supplied to the
Naftogaz will not pay
CADLR
temporarily occupied
territories
*
for supplies to CADLR
Compensation
from Gazprom
*Certain Areas of Donetsk and Luhansk Regions
Key results of the Arbitration on gas transit contract
Violation by Gazprom of its obligations for transit volumes
amounting to 110 bcm per year
•
•
Naftogaz awarded compensation from Gazprom of US$ 4.6bn
Net US$ 2.6bn after set-off of the amounts owed between the
parties in both cases
Sources: Naftogaz,
Naftogaz has initiated enforcement of the US$ 2.6bn award
Freeze of Gazprom's assets in England and Wales1
Freeze of Gazprom's stakes in its Dutch subsidiaries
Actions in Switzerland and the Netherlands
Note 1 On 18 June 2018 English court granted a freezing order against Gazprom. On 13 September 2018, upon mutual consent of the parties, the freezing order was discharged by the court in exchange
Naftogaz's 2017 Annual Report of written undertaking from Gazprom, as accepted by the court, not to dispose of or otherwise deal with or diminish the value of any of its shares in the Swiss company Nord Stream AG, save that
Gazprom shall be permitted to deal with or dispose of or diminish the value of the shares in the ordinary and proper course of business.
September 2019
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