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Hearings on Naftogaz freezing Gazprom's assets in Netherlands scheduled for december

August 15, 2019/ 09:17

Moscow. Hearings on Naftogaz of Ukraine’s freezing Gazprom’s assets in the Netherlands are scheduled for December, the Russian gas holding said on Wednesday.

In addition, court hearings on Gazprom contesting the arbitral award in the case of Naftogaz on gas transit are scheduled for September-October 2020, the report says.

On June 5, 2018, Gazprom learned that Naftogaz was taking actions to freeze the holding's assets in the Netherlands. In particular, on May 30, 2018, the Amsterdam District Court seized the shares of BSPC, the operator of the Blue Stream gas pipeline, owned by Gazprom, as well as debt service payments of the Dutch companies of the group to Gazprom (funds remain in disposal of these companies).

In addition, on February 15, 2019, Naftogaz of Ukraine sent a notice of freezing any debt and assets of Gazprom in Luxembourg to local divisions of the largest banks and Gaz Capital SA, told TASS.

On February 28, 2018, the Stockholm Arbitration Court handed down a final decision on the dispute between Gazprom and Naftogaz regarding the contract on gas transit via Ukraine, ordering the Russian company to pay $2.56 bln to Naftogaz of Ukraine. Gazprom challenged these decisions and later sought complete cancellation of the "transit" decision. On April 15, Gazprom appealed to the Luxembourg court challenging assets frozen at the request of Naftogaz and joining the process.

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