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ARTICLE · 17 JULY 2025

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Naftogaz v. Gazprom: Final Arbitral Award Rendered, Enforcement Proceedings Imminent

Aceris Law
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On 20 June 2025, the Arbitral Tribunal rendered a final award (National Joint Stock Company Naftogaz of Ukraine v. Public Joint Stock Company Gazprom (III), ICC Case No. 27245/GL)...

GlobalLitigation, Mediation & Arbitration
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On 20 June 2025, the Arbitral Tribunal rendered a final award (National Joint Stock Company Naftogaz of Ukraine v. Public Joint Stock Company Gazprom (III), ICC Case No. 27245/GL), bringing the proceedings in another Naftogaz versus Gazprom dispute1 to a close.2 Attention now shifts to the next chapter, how the enforcement battle will unfold.

Factual Background of the Case

On 9 September 2022, the National Joint Stock Company "Naftogaz of Ukraine" submitted a Request for Arbitration to the International Court of Arbitration of the International Chamber of Commerce (ICC) in Paris, initiating proceedings against PJSC "Gazprom" of the Russian Federation.3

Naftogaz pursued compensation from Gazprom for services provided under a Swedish law-governed contract4 related to the transit of natural gas through Ukraine.5 Despite its contractual obligations, Gazprom failed to make complete or timely payments.6 Naftogaz contended that Gazprom violated a "ship-or-pay"

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