MOSCOW, February 12 (RAPSI) - Government-owned corporation Olympstroy dropped two suits against Gazprom seeking a total of 4.2 billion rubles (about $65 million), according to a court ruling obtained by RAPSI on Thursday.

Olympstroy brought suits seeking 3.36 billion rubles ($52 million) and 832 million rubles ($13 million) from Gazprom which filed a counterclaim.

Olympstroy alleged that it sustained damages because of delay in the construction of facilities for Sochi-2014 Winter Olympic Games.

Gazprom said that the delay had been caused by Olympstroy.

During the hearings the parties announced that they were negotiating an amicable agreement.

Notably, Gazprom dropped on February 9 a suit against Olympstroy seeking 504.9 million rubles ($7.8 million) in damages.

Gazprom was fully engaged in the construction of the Olympic venues in Sochi. In particular, the company financed the construction of ski and biathlon complex and gas line to the Rosa Khutor Alpine Resort.

Olympstroy was established to manage and supervise sports facilities design and construction for the Winter Olympics in Sochi, which took place from February 7 to 23, 2014.