Stockholm arbitration court starts hearing Lithuania’s dispute with Gazprom

Gazprom
Reuters/Scanpix

The hearing will take place in Paris on July 1 through 10, with a judgment likely late this year or early next year.

Lithuanian Energy Minister Rokas Masiulis, the ministry’s officials and lawyers hired by the ministry are to participate in the hearing.

Lithuania turned to the Arbitration Institute of the Stockholm Chamber of Commerce in October 2012, seeking around 1.4 billion euros in compensation from Gazprom for overcharging Lithuanian gas consumers for gas supplies between 2004 and 2012.

After Lietuvos Dujos (Lithuanian Gas) threatened to file a new arbitration claim, Gazprom in May 2014 reduced, by around 20 percent, the price for gas supplies to the company, which at that time supplied gas to all household consumers and a part of commercial consumers in the country, in 2013 through 2015.

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