It is reported that on November 2nd the Commercial Court of Kyiv dismissed a claim of Ukrnafta to own 8.49 cubic meters of natural gas, which had been pumped to gas storage facilities in 2005 to 2008.

The UNAF management has issued a statement saying it will file an appeal with the Appellate Court challenging the Commercial Court ruling.

According to Millennium Capital analyst “The ownership of the 8.49 cubic meters of natural gas in question has been subject of a protracted legal dispute between its principal shareholders. This news has completely destroyed the positive effect of the Naftogas offer for Privat Group to sign a partnership agreement. Consequently, it reduces the possibility of a dividend payout for 2006 to 2008 in the amount of about UAH 4.9 billion by 2010.”

(Sourced from Millennium Capital)