Czech energy company CEZ received a decision in its favor in a lawsuit against Russian giant Gazprom, in which the arbitration court ordered compensation for worth just over $42.16 million (over 1 billion Czech crowns). The compensation is related to the significant reduction in natural gas supplies from Gazprom in 2022, which forced SEZ to purchase gas at significantly higher prices in order to fulfill its obligations to customers.
The decision was made by the International Chamber of Commerce (ICC), which organized the arbitration process. The tribunal fully accepted the claim of SEZ and ordered Gazprom to pay the awarded sum, as well as interest and production differences. The Czech company has indicated that if Gazprom does not fulfill its obligations voluntarily, it will undertake forced fulfillment.
The company's spokesman, Ladislav Križ, commented to Novinku: "The tribunal fully accepted the claim of SEZ, which in international arbitration seeks compensation from the Russian gas company Gazprom for damages exceeding one billion Czech crowns."
According to the arbitration award, Gazprom must pay SEZ not only compensation, but also interest for late payment, as well as reimbursement of court costs.
Whether the award will actually be paid remains to be seen, but the decision underscores the ongoing tension in the European energy sector. The outcome could have long-term consequences for energy companies and technical contractual relations in the region.