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

Japan's Mitsui Eyes Alaska LNG Project

Petronas Preps for Sabah-Sarawak Gas Pipeline Decom Op

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Sembcorp Signs 10-Year LNG Supply Contract with Chevron

TVO Selects Collins to Head Australian Ops

BP Greenlights $7B CCUS Scheme Tied to Indonesia LNG Facility

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

Impending Shortage of Jackups within Ageing Asia Pacific Fleet

Korea's Hanwha Raises Offer for Singapore's Dyna-Mac Takeover

Shelf Drilling Finalizes Baltic Rig Sale

Current News

McDermott Concludes Work at PTTEP’s Kikeh Gas Field Off Malaysia

Japan's Mitsui Eyes Alaska LNG Project

Santos Hires Weststar-GAP for Timor-Leste Offshore Helicopter Services

Petronas Preps for Sabah-Sarawak Gas Pipeline Decom Op

European LNG Imports Up with Asian Influx

Sunda Energy Starts Environmental Survey for Timor-Leste Oil and Gas Field

Kazakhstan Looks to Improve Oil Production Agreements Terms

ConocoPhillips Takes Over Operatorship of Malaysian Oil and Gas Cluster

VIDEO: AIRCAT Crewliner takes Shape to Service Offshore for TotalEnergies Angola

China's CNOOC Aims for Record Oil and Gas Production in 2025

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