Lithuanian government to consider ways to use 1.4bn it may win from Gazprom

[LordTyrannus]

25% of GDP debt for Russia.That means absolutely nothing.

compare it to 113% of GDP for USA. thats official. Inofficial it is over 300%

lmao

and russia has huge gold reserves. USA has zero gold reserves. they are toilet paper economy.

 

[Hindustani78]

Stockholm arbitration court to start hearing dispute between Lithuania and Gazprom next week - EN.DELFI
Wednesday, June 24, 2015 A Stockholm arbitration court will next week start hearing the Lithuanian government's suit against Russia's gas supplier Gazprom over unfair gas prices. Stockholm arbitration court to start hearing dispute between Lithuania and Gazprom next week

Mantas Dubauskas, spokesman for the energy minister, confirmed to BNS that the hearing would take place on Jul. 1–10 and the final decision might be expected late this year or early next year. Energy Minister Rokas Masiulis, the ministry’s officials and its lawyers should participate in the hearing.

In October 2012, the Lithuanian government filed a claim against Gazprom demanding approximately 1.4 billion euros for overcharging of gas supplies between 2014 and 2012.

In what might be an attempt to influence the Stockholm arbitration court and, possibly, appease EU regulators, Gazprom cut the price of natural gas supplies to Lietuvos Dujos, which sells gas to all household users in the country, by more than 20 percent in May 2014.

Early in April, Gazprom withdrew its arbitration suit against Lithuania over the implementation of the European Union’s (EU) Third Energy Package.

 

[Hindustani78]

Stockholm arbitration court completes oral hearing in Lithuania's dispute with Gazprom - EN.DELFI

Friday, July 10, 2015
A Stockholm arbitration tribunal's oral hearing for Lithuania's suit against Russia's gas supplier Gazprom was completed on Thursday after the parties to the dispute made their closing statements.

The parties now have until late September to submit their post-hearing briefs, the Energy Ministry said on Friday, adding that the arbitration tribunal is expected to deliver its judgement next year.

"Lithuania argues that Gazprom should compensate for the damage suffered by Lithuanian consumers due to being charged an unfair price for gas for several years. I believe that the arguments we presented are quite strong," Lithuanian Energy Minister Rokas Masiulis, who attended the hearing in Paris, said in a press release.

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.