Gazprom Says Nord Stream Payments Blocked by Swiss Injunction

Monday, November 12, 2018

Gazprom said a Swiss court has issued an injunction blocking payments from the operators of the Nord Stream gas pipeline as part of a legal dispute between the Russian gas producer and Ukraine's Naftogaz.

All payments from Nord Stream AG and Nord Stream 2 AG are to be directed to the Swiss bailiffs, Gazprom said in a program for a eurobond issue dated November 9.

Gazprom intends to challenge the injunction in court, TASS news agency quoted Viktor Zubkov, the head of Gazprom's board of directors, as saying.

Zubkov was quoted as saying he hoped the block would not affect the completion of the Nord Stream 2 pipeline that would transport Russian gas to Germany.

In June 2014, Gazprom and Naftogaz lodged multi-billion-dollar claims against each other with the Stockholm arbitration court, which resolves commercial disputes.

Naftogaz claims Gazprom owes it $2.56 billion after a Stockholm court found in Naftogaz's favor following a lengthy legal battle.


(Reporting by Oksana Kobzeva and Vladimir Soldatkin; writing by Vladimir Soldatkin and Tom Balmforth; editing by Jason Neely and Louise Heavens)

Categories: Legal Finance LNG Government Update Pipelines Gas Natural Gas

Related Stories

Norwegian Oil Investment Will Peak in '25

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

China Starts Production at Major Oil Field in Bohai Sea

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

Scarborough FPU's Topsides and Hull Come Together in Major Engineering Feat (Video)

Current News

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com