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.

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Gazprom
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“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.

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