Industry: Natural Resources

US gas exporter Venture Global has paid US$320 million to satisfy two ICC awards won by a contractor that built its LNG facility in the Gulf of Mexico – as it faces arbitrations worth more than US$7 billion brought by customers for non-delivery of promised cargoes.

10 March 2025

Toronto-listed mining company Gold Reserve has filed a new investment treaty claim worth more than US$7 billion against Venezuela – while continuing efforts to collect on a billion-dollar award it won against the state in an earlier arbitration. 

06 March 2025

Spanish electric utility Endesa has instructed counsel to defend it in a US$308 million price review arbitration brought under a long-term contract for supply of liquefied natural gas – months after defeating a US$650 million claim in a separate arbitration.  

03 March 2025

A Swedish company says it is considering a potential arbitration against Russia over the seizure of gas assets in the Black Sea, after its Ukrainian partner won a claim over the same assets.

27 February 2025

Toronto-listed mining company Gold Reserve says a Portuguese court has confirmed its decade-old investment treaty award against Venezuela now worth more than US$1.1 billion. 

25 February 2025

The Commercial Court in London has ruled that a Nigerian businessman and his company are liable for around U$33 million in debts for fuel purchases and that their defences in related LCIA and DIAC arbitrations were “bound to fail”. 

17 February 2025

A US court has granted a request by Australian disputes funder Omni Bridgeway to confirm an ICC award worth around US$15 million against Albania and its national oil company.

17 February 2025

Italy’s UniCredit has asked a UK court to lift an anti-suit injunction it won against a Gazprom joint venture because it faces “potentially draconian financial consequences” in parallel proceedings in Russia – and says two other European banks have made similar applications. 

06 February 2025

Austrian energy group OMV says it has won an SCC award worth €48 million against Russia’s Gazprom over a terminated gas supply contract – months after winning another award against the Russian entity over a separate agreement.  

05 February 2025

A Swedish court has rejected a bid by entities associated with oligarch Igor Kolomoisky to revive a US$6 billion Energy Charter Treaty claim against Ukraine – despite finding that the grounds for dismissing the case were wrongly decided. 

03 February 2025