Naftogaz not to clear $5.3 bln bill until Stockholm arbitration decision issued

Naftogaz does not intend to clear it until the Arbitration Institute of the Stockholm Chamber of Commerce issues its final decision, the press service of the company has told Interfax-Ukraine news agency. "Gazprom refers to the take-or-pay requirement in explanations to the bill. Naftogaz does not plan to clear the bill. Until the decision is made by the arbitration tribunal, the take-or-pay provision of the contract is to apply within the existing arbitration," the company said. Naftogaz said in 2016 the company several times said that it is ready to buy natural gas from Gazprom on the conditions applied to gas purchases in 2014 and 2015 with signing of supplements to the contract. Gazprom refused to sign any supplements without explanations. This gives additional grounds to say that Gazprom's claims are groundless," Naftogaz said.