Iran: Tehran ordered to pay $2bn to Turkmengaz

Issue 1106 - 03 Jul 2020

The International Court of Arbitration (ICA) in Paris has ordered National Iranian Gas Company (NIGC) to pay Turkmengaz $2bn, according to local media reports in Iran. The verdict follows a long-running dispute over gas sales from Turkmenistan to Iran from 2007 to 2013. Turkmenistan halted gas exports to its neighbour in January 2017 over a claimed $1.5bn in unpaid bills; later that year it took the dispute to the ICA.

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