Metinė prenumerata tik 6,99 Eur. Juodai geras pasiūlymas
Išbandyti
2013 05 15

7-strong Lithuanian Supreme Court panel to hear Gazprom's complaint over Stockholm arbitration decision

On Wednesday, the Lithuanian Supreme Court started hearing a complaint by Russia's gas giant Gazprom over the enforcement of the Stockholm Arbitration Tribunal's ruling in Lithuania. A seven-strong judicial panel will continue hearing the case.
Aukščiausiasis Teismas
Supreme Court of Lithuania / Andriaus Vaitkevičiaus / 15min nuotr.

A panel of justices is normally appointed to hear particularly complex and large scale cases, Rūta Bučinskaitė, the court's spokeswoman, told BNS.

Bučinskaitė said that Gazprom's complaint was being heard by way of written procedure. She could not say when the hearing of the case would continue and when the court's decision would be announced.

Gazprom has appealed against a decision of the Lithuanian Court of Appeals, dated December 17, 2102, not to recognize and enforce in the country the Stockholm Arbitration Tribunal's ruling regarding its natural gas price for Lithuania.

Russia's gas giant then said that the court's decision raised doubts as to Lithuania's readiness to meet its international commitments and showed a failure in protecting foreign investors' rights in the country.

The Russian supplier said that Lithuania had not only breached the requirements of Lietuvos Dujos' (Lithuanian Gas) shareholder agreement, but had also refused to enforce an international arbitration award.

Meanwhile, the Court of Appeals' judicial panel stated that recognizing and enforcing the arbitration court's decision in Lithuania would be contrary to the country's public policy.

Lithuania's former government said that Gazprom was applying discriminatory prices to the country, which is the first Baltic state that is implementing the EU's third energy package and aims to unbundle the assets of Lietuvos Dujos, in which the Russian supplier holds a significant stake, by the end of 2014.

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