14:48 GMT +324 September 2018
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    A handout by Nord Stream 2 claims to show the first pipes for the Nord Stream 2 project at a plant of OMK, which is one of the three pipe suppliers selected by Nord Stream 2 AG, in Vyksa, Russia, in this undated photo provided to Reuters on March 23, 2017

    Nord Stream 2 AG Receives Notification on Seizure of Assets Upon Kiev's Request

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    The Nord Stream 2, the operator of an existing gas pipeline of the same name, reported that it had received a seizure warrant for AG's assets. However, the company specified that it wouldn't have any impact on the pipeline project itself.

    "On May 29, Nord Stream 2 received a resolution on interim measures to recover funds from Gazprom," a company representative told Sputnik, stressing that this resolution has no impact on the Nord Stream 2 project.

    The announcement was made hours after Sputnik obtained information about legal officers' visit to the office of Nord Stream AG, the operator of a Russian gas pipeline of the same name, in Switzerland. The visit hasn't resulted in any property seizure orders.

    READ MORE: Legal Officers Visit Nord Stream AG Office, Execute No Property Seizure - Source

    The Nord Stream 2 project has been welcomed by some countries in Europe, such as Germany and Austria, and opposed by others, including Eastern European states, such as Ukraine, which currently transfers Russian gas to Europe and may suffer transit revenue declines if Nord Stream 2 becomes operational.

    The Gazprom-Naftogaz Dispute

    Prior to that, in March, Chief Commercial Officer of Ukrainian oil giant Naftogaz Yuriy Vitrenko declared that his company did not exclude the possibility of appealing to a Swiss court to demand the seizure of Nord Stream AG and Nord Stream 2 AG shares to recover Gazprom's debt related to the decision of the Stockholm Arbitration Court.

    READ MORE: Remaining Permits for Nord Stream 2 May Be Issued in Summer - Gas Concern's Head

    The Naftogaz's claims over what it said was the failure of the Russian energy giant to supply the agreed volumes of gas for transit, were partially satisfied by the Stockholm arbitration court in February 2018. The court ordered Gazprom to pay $4.63 billion to the Ukrainian company. Though, taking into account the amount of money previously awarded to Gazprom in relation to the gas supply contract, the mutual offset of liabilities resulted in Gazprom's obligation to pay $2.5 billion.

    The same month, Gazprom said it was against Ukraine resolving its economic problems at its expense and launched a procedure to terminate contracts with Naftogaz. The company filed a motion with the Svea Court of Appeal in Sweden requesting that the Stockholm arbitration ruling be partially annulled on March 21.

    Tags:
    resolution, seizure, assets, Nord Stream 2, Naftogaz, Gazprom
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