French Engie takes Gazprom to court

French company Engie S. A. has initiated arbitration proceedings against Russia’s Gazprom Export LLC in accordance with the Rules of the Arbitration Institute of the Stockholm Chamber of Commerce, seeking to revise the price in its natural gas supply contract, Gazprom said in its earnings report, according to Russian news agency RBC.

The lawsuit was filed on December 23, 2015. By January 21, Gazprom Export should have appointed an arbitrator and submitted its response to the notice of initiation of the proceedings.

#Gazprom reported that arbitration proceedings have also been initiated by DONG Energy, PGNiG, Botas, and Shell regarding the revision of contract prices.

As stated in the report, the arbitration proceedings previously initiated by Finnish natural gas company Gasum Oy were completed on December 23 2015, after the parties had agreed on a commercial settlement outside of the arbitration proceedings.

The Russian company informed that in December 2015, it reached an agreement on a revision of the price in 2016 with SPP. Also in September 2015, Gazprom adjusted the terms of supplies to Sinergie Italiane and PremiumGas.

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