The District Court in Amsterdam ordered to seize the shares of Blue Stream Pipeline Company B.V., owned by Russian energy giant Gazprom, and the company's debt to Gazprom, as part of the $2.56 billion damages that the Russian company has to pay after losing to Ukraine's Naftogaz in court, Gazprom said Wednesday in an International Financial Reporting Standards (IFRS) report.
MOSCOW (Pakistan Point News / Sputnik - 29th August, 2018) The District Court in Amsterdam ordered to seize the shares of Blue Stream Pipeline Company B.V., owned by Russian energy giant Gazprom, and the company's debt to Gazprom, as part of the $2.56 billion damages that the Russian company has to pay after losing to Ukraine's Naftogaz in court, Gazprom said Wednesday in an International Financial Reporting Standards (IFRS) report.
"On 30 May 2018 the shares in Blue Stream Pipeline Company B.V. owned by PJSC Gazprom and the debt owed by Blue Stream Pipeline Company B.V. to PJSC Gazprom were seized pursuant to the judgment of the District Court of Amsterdam dated 30 May 2018," the report read.
Blue Stream Pipeline Company B.V., a joint venture of Gazprom and Italy's Eni, was set up to build the Blue Stream pipeline from Russia to Turkey. Blue Stream Pipeline Company owns the offshore stretch of the pipeline, while Gazprom is the owner and operator of the onshore part.
In February 2018, the Stockholm arbitration court ordered Gazprom to pay $2.56 billion in compensation to the Ukrainian company over the 2014 breach of contractual obligations. Gazprom appealed the decision, but Ukraine said it would start claiming the damages via asset freezes in Switzerland, the Netherlands and in the United Kingdom.
