Turkmenistan wins $2 billion gas dispute with Iran in court

Turkmenistan wins $2 billion gas dispute with Iran in court

The national Iranian gas company is obliged to pay off the debt for the Turkmen gas delivered in the period from 2007 to 2013 in the amount of about $2 billion. This decision was made by an international arbitration, according to the Financial Tribune.

The report notes that according to the arbitration rules, the details of the ruling can only be published if all the participants in the dispute agree to disclosure.

The gas dispute between the National Iranian gas company and the state concern "Turkmengaz" over the debt of the buyer for the delivered gas has been going on for several years. Direct purchases by the Iranian side continued until the beginning of 2017, when Turkmenistan stopped supplying gas. All attempts to resolve this issue in the course of negotiations did not lead to anything, after which the SC "Turkmengaz" was forced to file a claim with the international arbitration court.

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