Naftogaz demands $1.2 billion from its former Crimean subsidiary

Ukrainian state oil and gas company Naftogaz has filed a suit for 11.6 billion hryvnia ($1.2 billion) against its former daughter company in Crimea, Chernomorneftegaz, reports Russian daily Kommersant.

Ukrainian state oil and gas company Naftogaz has filed a suit for 11.6 billion hryvnia ($1.2 billion) against its former daughter company in Crimea, Chernomorneftegaz, reports Russian daily Kommersant.

According to Kommersant, in early February, Naftogaz filed eight lawsuits against Chernomorneftegaz demanding a return of interest-free loans made in 2009-2012. The loans were directed at the purchase of two rigs for drilling on the Crimean shelf.

Both organizations declined to comment on the litigation, however a source in Chernomorneftegaz said that the court filings are old and not related to the current political situation in Ukraine and Crimea. Deputy Prime Minister of Crimea Temirgaliev Rustam has said that the republic's authorities do not recognize the existence of any debt from Chernomorneftogaz  to Naftogaz.

Based on materials from Russian daily Kommersant.

Crimea to hand over Chernomornaftogaz to Russia's Gazprom - deputy CEO>>>

The Crimean authorities intend to hand over Chernomornaftogaz to Russia's Gazprom (MOEX: GAZP) whose specialists have effectively taken the company under their control, Chernomornaftogaz Deputy CEO Vladimir Plechun said.

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