Rushimalliance, a joint venture between Gazprom and Rusgazdobycha, is asking German engineering firm Linde to pay more than 946.5 million euros in unearned advances, about 25.8 million euros and more than 7.6 billion rubles in losses related upon termination of the contract for the construction of an ethane-containing gas processing complex in Ust-Luga.
Like it should according to the published file of the Arbitration Court in St. Petersburg, Linde’s assets in Russia for 35 billion rubles have already been arrested. However, their value is equal to half of the losses claimed by Linde for non-fulfillment of the construction obligations of a gas processing plant.
“The price of RusKhimAlliance’s claim against the Defendants, as mentioned above, will be 946,543,608 euros of the unprocessed advance and 25,758,246 euros, 7,609,185,412 rubles. losses. At the same time, the total value of the property, which the plaintiff requests to seize, is 35,005,393,246 rubles, which is two times less than the requirements imposed on the Defendants,” – says the court ruling on precautionary measures dated December 30, 2022.
Previously, in May and June, Linde, who took over the functions of the contractor, notified the customer of the suspension of the works under the contract in connection with the sanctions imposed by the EU, which prohibit the supply of dual use to Russia individuals and legal entities.
Now Rushimalliance, within 15 working days from the moment of the decision on the precautionary measures, must start carrying out the preliminary procedure for the resolution of the dispute with Linde: send a notification. After another 45 days and 5 business days, a notice of arbitration must be submitted to the Hong Kong International Arbitration Center.
The seat of the hearings is Stockholm.
