Ukraine’s Naftogaz to Recover $1.4 Billion from Gazprom in Kazakhstan

Читайте этот материал на русском. The dispute resolution court at the Astana International Financial Center ruled on May 20 in favor of Ukraine’s Naftogaz, allowing the company to pursue a $1.4 billion arbitration award against Kazakhstan-based assets owned by Russia’s Gazprom.The ruling authorized enforcement of the arbitration award against the Russian gas giant, marking the first such decision in a jurisdiction outside Russia.Naftogaz can now seek to recover the $1.4 billion from Gazprom’s assets in Kazakhstan.On May 21, Naftogaz CEO Sergii Koretskyi said this was “yet another practical result” of his company’s efforts to recover funds related to a dispute on unpaid tariffs since the Russian invasion of Ukraine in 2022.In September 2022, Naftogaz initiated arbitration proceedings in Switzerland under the rules of the International Chamber of Commerce.In June last year, the tribunal sided with Naftogaz.Then, the Swiss Federal Tribunal in January and the Swiss Federal Supreme Court in March both rejected Gazprom’s appeal.Russian gas shipments to Europe through Ukraine continued after the full-scale invasion in February 2022 under a long-term transit contract signed in 2019.In May 2022, according to Naftogaz, Gazprom stopped paying transit and handling fees. “We are steadily moving forward and working on the enforcement of the arbitral award in several jurisdictions,” Koretskyi said.In Kazakhstan, Gazprom holds a 50% stake in KazRosGaz, a joint venture with Kazmunaigas that handles gas produced at the Karachaganak field.The Russian company also owns a network of gas stations and oil depots (rebranded in 2025 from Gazprom Neft to Alatau Premium Munai).