Naftogaz Group said Tuesday it had asked Gazprom to pay a $1.37 billion arbitration award won by the Ukrainian company in Zurich.
“The amount includes the principal debt for gas transit services under the 2019 agreement, as well as delay interest and full compensation for legal expenses incurred by Naftogaz”, Naftogaz said in an online statement. The state-owned integrated oil and gas company said it had won the award June 10.
“Should Gazprom fail to comply voluntarily, Naftogaz plans to initiate asset recovery measures targeting the Russian company’s holdings abroad”.
Gazprom has yet to respond to Rigzone’s request for comment.
Naftogaz added it continues to pursue enforcement of a separate arbitration award of over $5 billion against the Russian government over what the company said was the “illegal expropriation” of its assets in Crimea when Moscow annexed the peninsula in 2014.
Naftogaz won the compensation before the Permanent Court of Arbitration in The Hague in 2023.
In October 2024 Naftogaz said a Finnish court had granted its motion to freeze certain Russian-owned assets in Finland including real estate in enforcement of the 2023 award. The freeze order by the Helsinki District Court involved tens of millions of dollars, Naftogaz said then.
In April 2025 Naftogaz said a French court allowed it to seize Russian assets in French territory pursuant to the 2023 ruling.
Announcing the Paris Judicial Court’s grant of a leave to enforce, or exequatur, Naftogaz also said the Dutch Supreme Court had earlier “dismissed the cassation appeal of the Russian Federation to overturn the tribunal’s partial award on jurisdiction and merits”.
Naftogaz said it had “registered mortgages” on several Russian state-owned assets in France valued over EUR 120 million ($139.15 million), in enforcement of the French decision.
“Naftogaz had been the leading player in the natural gas industry in Crimea, active in gas exploration, production, transport, storage, processing, and distribution”, it said. “The company’s property included special permits for subsoil use; equipment and infrastructure; pipeline and gas-storage operation rights; ownership interests in gas pipelines; and over 675 million cubic meters of stored gas”.
The Russian authorities have not replied to Rigzone’s requests for comment on the French ruling.
In Tuesday’s announcement of the Swiss arbitration award, Naftogaz said it is pursuing the 2023 award in eight other “jurisdictions”.
“Proceedings are ongoing in other countries, though further details remain confidential for legal strategy reasons”, it added.
“In most jurisdictions, Naftogaz is represented by leading local law firms working on a pro bono basis”.
To contact the author, email jov.onsat@rigzone.com
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