Statoil wins $536m Algerian gas supply claim
Issue 277
- 17 May 2014
| 4 minute read
London’s Commercial Court has upheld a $536m award in favour of Norway’s Statoil and against Algeria’s Sonatrach in a dispute over the non-delivery of liquefied natural gas (LNG). The ruling is a further embarrassment to Sonatrach after a year in which it has lost a series of arbitrations with gas offtakers, mostly related to pricing. At first sight, the ruling appears to confirm concerns about Algeria’s ability to meet its international gas supply commitments. However, a closer analysis shows that the dispute is also the result of dysfunctional management at the most senior level in both Sonatrach and the Ministry of Energy and Mines.
Don't have an account?
Register for access to our free content
An account also allows you to view selected free articles, set up news alerts,
search our African Energy Live Data power projects database and view project locations on our interactive map
Register