MOSCOW, November 14 (RAPSI) – Russia’s Gazprom is preparing its legal position regarding its ongoing dispute with Lithianian Ministry of Energy over allegedly unfair gas prices. The hearings in the case are set for June 2018, the quarterly report of the corporation reads on Tuesday.
According to the report, in April Gazprom officially received a motion of the Ministry seeking to nullify the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce in favor of the Russian company. In June, Gazprom filed its statement to the Stockholm court of Appeals.
In June 2016, the Arbitration Institute dismissed a claim lodged by Lithuania seeking about EUR 1.4 billion in compensation from Gazprom for allegedly unfair gas prices.
In October 2012, Lithuania filed a EUR 1.4 billion claim against Gazprom with the Arbitration Institute of the Stockholm Chamber of Commerce.
The Lithuanian Energy Ministry claimed that Gazprom agreed to supply natural gas to Lithuania at fair prices based on a price formula stipulated in a gas supply and privatization contract signed by Lietuvos Dujos and Gazprom in 2004.
However, gas prices increased considerably between 2004 and 2012, as the formula for the prices were allegedly changed in violation of the privatization contract.
Gazprom was opposed to these claims.