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

MOL Puts FSRU for Indonesia's Jawa 1 LNG Power Plant Into Operation

Gazprom Uses Replacement Vessel to Maintain Gas Loadings

Petronas Starts Construction of Malaysia's First Nearshore FLNG Facility

AG&P LNG Grabs Stake in $500M LNG Terminal in South Vietnam

Quick Connect: OAL Subsea Pipeline Completed

Digitalization is Drawing CCS a New Learning Curve

Woodside Sells 15.1% Scarborough Stake to JERA for $1.4B

Equinor Pens 15-Year LNG Supply Deal with Indian Firm

Asia LNG Imports Are Robust, But Record Supply Keeps Spot Prices Muted

TotalEnergies Picks Up OMV’s Upstream Gas Assets in Malaysia

Current News

Sapura Energy Hooks Subsea Services Contract from Thai Oil Major Off Malaysia

Philippines' PXP Energy Eyes Petroleum Blocks in Non-Disputed Areas

BP Suspends Production at Azerbaijani Platform for Maintenance Works

SOVs – Analyzing Current, Future Demand Drivers

Decarbonization Offshore O&G: Navigating the Path Forward

Subsea Vessel Market is Full Steam Ahead

China's Imports of Russian Oil Near Record High

TotalEnergies Inks $530M Deal to Acquire Malaysia’s SapuraOMV

Energy Storage on O&G Platforms - A Safety Boost, too?

Malampaya Gas Field Exceeds Export Capacity Amid Grid Demands in Philippines

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