Lloyd's Law Reporter

Professor Robert Merkin KC and Dr Johanna Hjalmarsson

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NATIONAL JOINT STOCK COMPANY NAFTOGAZ OF UKRAINE V PUBLIC JOINT STOCK COMPANY GAZPROM

[2019] EWHC 658 (Comm), Queen's Bench Division, Commercial Court, Sir Michael Burton QC (sitting as a High Court Judge), 15 March 2019

Arbitration Stay of enforcement pending challenge to award Whether enforcement should be stayed Whether security should be granted Arbitration Act 1996, section 103(5)

In 2009 Naftogaz and Gazprom entered into two contracts relating to the sale and transit of natural gas through Ukraine. Disputes arose, and arbitrations were held in Stockholm on each of the contracts. The outcome of the arbitrations was that Gazprom owed to Naftogaz the sum of US$2,560,332,662.77 plus interest at 7.5 per cent. Popplewell J made an enforcement order on 8 June 2018 for the net sum, and Naftogaz entered judgment for the net sum. Gazprom sought an order for adjournment of enforcement, pending an application made by Gazprom to the SVEA Court in Sweden to set aside the award. That hearing was to take place between 12 and 14 months after the present application.

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Lloyd's Law Reporter

NATIONAL JOINT STOCK COMPANY NAFTOGAZ OF UKRAINE V PUBLIC JOINT STOCK COMPANY GAZPROM

[2019] EWHC 658 (Comm), Queen's Bench Division, Commercial Court, Sir Michael Burton QC (sitting as a High Court Judge), 15 March 2019

Arbitration  Stay of enforcement pending challenge to award  Whether enforcement should be stayed  Whether security should be granted  Arbitration Act 1996, section 103(5)

Arbitration Stay of enforcement pending challenge to award Whether enforcement should be stayed Whether security should be granted Arbitration Act 1996, section 103(5)