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Expert Analysis

Pricing Provisions And The Gazprom-Naftogaz Dispute

Law360, New York ( July 11, 2014, 10:12 AM EDT) -- On June 16, 2014, Gazprom announced that it had commenced arbitration proceedings against Naftogaz under the Stockholm Chamber of Commerce rules alleging that Naftogaz has failed to pay $4.5 billion for gas that Gazprom has already delivered to Naftogaz. Naftogaz also announced that it had commenced a claim under the SCC rules, seeking the establishment of a fair price for gas and alleging that it has overpaid for the gas already supplied. Some reports suggest that another claim — valued at over $18 billion — is just around the corner....

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