Final Gazprom, Naftogaz arbitration rulings both expected by end-November
The final arbitration rulings in the dispute between Gazprom and Ukraine's Naftogaz Ukrayiny over natural gas pricing, supply and transit are now expected to be made by the end of November, the Russian gas giant said late Tuesday.
In its second-quarter results statement, released under international standards, Gazprom also said it was analyzing the possible impact of the latest US sanctions law passed in early August on its business, Platts reports.
The long-running arbitration cases between Gazprom and Naftogaz -- one on pricing and supply, and the other on transit -- have been closely watched by the European gas industry given the potential for a significant financial impact on either party.
A first, interim ruling was made in the pricing and supply case in May, with Gazprom's $45 billion take-or-pay claims rejected by the Stockholm court and a ruling made that Naftogaz was entitled to a market-reflective adjustment of the price formula in the contract.
