Today, the Svea Court of Appeal has rejected Gazprom’s first appeal submitted on 7 November 2017 against the separate award in the supply case between Naftogaz and Gazprom rendered by the Stockholm Chamber of Commerce (SCC) Tribunal on 31 May 2017.
With its separate award of 31 May 2017, the Tribunal fully rejected Gazprom’s claims under the take-or-pay clause.
In addition, the Tribunal ruled that Naftogaz was entitled to a market-reflective adjustment of the price formula. The award of May 2017 also cancelled the destination clause.
Today, the Court of Appeal has rejected Gazprom’s claims, leaving the separate award unchanged. The Court of Appeal's decision cannot be appealed.
The oral hearing on Gazprom’s appeal against the second arbitration award – the final award in the supply case – is scheduled for February 2020. The hearing on the third award – in the transit case – is scheduled for next fall.
All arbitration awards remain valid and in full effect during the appeal process. An award ceases to be valid only in case of and after a positive decision on the appeal.
Gernandt & Danielsson and Wikborg Rein provided legal support in the case.
NJSC Naftogaz of Ukraine