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Stockholm Chamber of Commerce’s Arbitration Institute rejects Lithuania’s EUR 1.5 billion claim against Gazprom

June 22, 2016, 19:25

The Arbitration Institute of the Stockholm Chamber of Commerce (SCC) today rejected all claims made by Lithuania with respect to the terms of purchasing Russian natural gas, including the EUR 1.5 billion claim against Gazprom.

In its ruling, the SCC rejected all of Lithuania's allegations of unfair prices for gas supplied by Gazprom in the period from 2006 through 2015 to Lietuvos Dujos, the Lithuanian-based company that used to have Gazprom and Lithuania as its shareholders.

The SCC ruling is final and not subject to appeal.

Earlier, rulings in favor of Gazprom on other disputes between the Company and Lithuania were made by the SCC, a number of Lithuanian courts, and the European Court of Justice. In addition, Gazprom successfully divested its stake in Lietuvos Dujos.

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