Gazprom revises contracts with SPP, Sinergie Italiane, PremiumGas; Engie files lawsuit
MOSCOW. Feb 15 (Interfax) - French Engie S.A. initiated arbitration proceedings against Gazprom Export LLC on December 23, 2015, in accordance with Arbitration Institute of the Stockholm Chamber of Commerce rules, seeking to revise the price in its natural gas supply contract, Gazprom said in its earnings report.
The report provides updates to a number of Gazprom arbitration proceedings.
In September 2015, Gazprom adjusted the terms of supplies to Sinergie Italiane and PremiumGas. Agreement was reached with SPP in December 2015 on a revision of the price in 2016.
South Stream Transport B.V. received notification on December 16, 2015 from the secretariat of the International Chamber of Commerce's arbitration court that Saipem S.p.A. had requested arbitration in connection with the unilateral annulment of the March 14, 2014 contract on construction of the South Stream gas pipeline. Saipem is seeking compensation for work performed and for the contract annulment totaling about 760 million euro plus interest. Formation of the arbitration tribunal is still underway. South Stream has until February 16, 2016 to respond to Saipem's arbitration request.
The court has already appointed the chairman of the tribunal and drawn up the schedule in the Gazprom Export lawsuit against Turkmengaz, in which Gazprom is to submit its legal claims by April 30, 2016. The hearings are scheduled for July 2017.
In PGNiG's process against Gazprom Export, the arbitration schedule has already been agreed. A decision in the matter should be issued no later than July 31, 2017.
Gazprom also reported on a legal victory, securing payment of $831 million from Moldovagaz for deliveries made in 2012.
