Chief of Ukraine's Naftogaz Says Ready to Consider Gazprom's Proposals to Repay $3 Billion

KIEV (Sputnik) - Ukraine's Naftogaz is prepared to discuss with Russia's Gazprom how the Russian gas giant plans to repay its nearly $3 billion debt to the Ukrainian gas company, as well as possible compensation Gazprom would pay Naftogaz for Kiev to drop its $12.2 billion claims, Naftogaz Executive Director Yuriy Vitrenko said.

On Wednesday, Sweden's Svea Court of Appeal refused to uphold Gazprom's appeal against an arbitration decision in its transit dispute with Ukraine's Naftogaz.

"Let us consider possible ways in which Naftogaz, of which Ukrainian citizens are the beneficiaries, will receive $3 billion, in what form and what compensation will we receive if [Gazprom] wants us to drop our claims for $12.2 billion", Vitrenko said in a Ukraina channel broadcast.

The Stockholm arbitration delivered judgments in the Gazprom-Naftogaz disputes on gas transit and delivery contracts in December 2017 and February 2018. As a result, the Russian gas giant was ordered to pay $2.56 billion to Naftogaz. Gazprom appealed the rulings.