A Stockholm arbitration court, which examined Lithuania’s €1.4-billion suit against Russia’s gas supplier Gazprom over overcharging for gas supplies, has found no guilt on Gazprom’s part, Lithuania’s energy minister has said.

To read this article, try a €5.99 monthly subscription by clicking here.
Gazprom
© Reuters/Scanpix

“We know that the Stockholm arbitration court has not found any violations on the part of the Russian company,” Rokas Masiulis told reporters on Wednesday.

Lithuania was disappointed by the decision, he said, adding that arbitration costs had been split between the two parties, €0.5 million each.

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

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Ryanair announces new route from Kaunas (3)

Ryanair announced a new Kaunas route to Zadar in Croatia , with a twice weekly service commencing...

Doctors from Kaunas Clinics hope for gamma knife economic return over the next couple of years

Neurosurgeons from Kaunas Clinics in Lithuania's second largest city of Kaunas are very happy with...

World’s first digital collector coin to feature signatories of the Act of Independence

The world‘s first blockchain -based digital collector coin created by the Bank of Lithuania is...

Norwegian specialised bank gets licence in Lithuania

Following the assessment and proposal of the Bank of Lithuania , AB Fjord Bank has been granted a...

MG Baltic wins reputation damage case against MP

Vilnius Regional Court on Tuesday ruled that a court of lower instance justly ruled early this year...