Aequo acts for Naftogaz in a series of international arbitration proceedings securing a USD 2.56 billion victory for the client

Aequo acted in a team with Wikborg Rein as counsel to Naftogaz in a series of 2014-2018 SCC Arbitrations against Gazprom under long-term gas supply and transit contracts. The outcome was that the gas sale contract was significantly amended in line with the client's claims, and the Russian counterpart was ordered to pay a net amount of USD 2.56 billion to the client. The value of the total claims in these two arbitrations makes the dispute the biggest commercial arbitration in history and consists of USD 125 billion when the total claims and counter-claims are added together.