Russia's Gazprom pays $2.9 billion natural gas compensation to Ukraine's state-owned Naftogaz
Gazprom logo is seen on a gas processing column under construction at Amur gas processing plant, part of Power Of Siberia project outside the far eastern town of Svobodny, in Amur region, Russia November 29, 2019.
"Naftogaz of Ukraine has confirmed receipt of $2.918 billion in compensation from Gazprom in compliance with the 2018 Stockholm Arbitration's award. Thus, in total, based on the results of the [gas] transit arbitration, Naftogaz received $5 billion from Gazprom," the company said in a statement. "Naftogaz welcomes the recognition by the Russian side of the need to comply with the 2017-2018 arbitration awards and its intention to continue transporting gas to the EU through Ukraine. The parties continue negotiations on the terms of further cooperation after the current contract [with Gazprom] expires on January 1, 2020," it said.
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