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

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

Marine Masters Secures Wellhead Platforms Installation Job Off India

ADNOC Secures LNG Supply Deal with India's BPCL

Japan's Mitsui Eyes Alaska LNG Project

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

Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Sembcorp Signs 10-Year LNG Supply Contract with Chevron

Current News

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

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