Economy & Industry

On 29 June, 2020 the Iranian news agency MEHR, with reference to the General Directorate of Public Relations of Iran’s Oil Ministry reported that the International Court of Arbitration made a ruling regarding the dispute between the National Iranian Gas Company (NIGC) and “Turkmengaz”.
The arbitrator announced his decision to both parties on June 24, 2020.According to the news outlet, pursuant to the rules of arbitration, this decision cannot be disseminated by any of the parties to the dispute, except with the agreement of the parties.
The news outlet points out that the current dispute between “Turkmengaz” and the National Iranian Gas Company is only one dispute over the exact amount of debt owed to “Turkmengaz” and the National Iranian Gas Company’s claims related to the quantity and quality of Turkmenistan’s exported gas to Iran. Therefore, this commercial lawsuit has no winner or loser.
The issued ruling has different dimensions, in some cases the views of “Turkmengaz” Company and in some cases the views of the National Iranian Gas Company have been sustained.
In conclusion NICG expressed hope that “this ruling will pave the way for further development of relations between the two friendly and neighboring countries”.
Let us recall that in late 2016 a public row broke out between Iran and Turkmenistan after “Turkmengaz” demanded that the NIGC settle the debt of $1,8 billion. The Iran media outlets reported that after lengthy negotiations the sides had come to mutual agreement. Despite this, on 1 January 2017 Turkmenistan cut off gas supply to Iran.
In Mid August 2018 “Turkmengaz” filed a lawsuit against the NIGC to the International Court of Arbitration. In October 2018 Iran submitted a counter claim.

More related articles

Priorities of cooperation with WHO are discussed during online meeting
Sports & Health
Priorities of cooperation with WHO are discussed during online meeting
WHO and Turkmenistan’s Foreign Ministry agree to sample suspect COVID-19 patients as soon as possible
Sports & Health
WHO and Turkmenistan’s Foreign Ministry agree to sample suspect COVID-19 patients as soon as possible
President of Turkmenistan expresses condolences over the victims in plane crash in India
Politics & International relations
President of Turkmenistan expresses condolences over the victims in plane crash in India
WHO to take independent COVID-19 tests in Turkmenistan
Sports & Health
WHO to take independent COVID-19 tests in Turkmenistan
10.08.2020 | Online meeting with WHO Regional Director for Europe
Sports & Health
10.08.2020 | Online meeting with WHO Regional Director for Europe
Turkmenistan’s public sector employees give a bribe to avoid undergoing a health examination
Sports & Health
Turkmenistan’s public sector employees give a bribe to avoid undergoing a health examination