site.btaBulgargaz Files Arbitration Claim against Gazprom for EUR 400 Mln

On July 8, public natural gas supplier Bulgargaz started arbitration proceedings against Russia’s Gazprom Export before the Court of Arbitration of the International Chamber of Commerce (ICC) in Paris. The claim filed is for damages of over EUR 400 million suffered as a result of the unilateral suspension of natural gas supplies more than two years ago, at the end of April 2022, Bulgargaz said in a press release. 

At the end of May, Bulgargaz sent an invitation to Gazprom Export for voluntary settlement of the Bulgarian company's claim, according to the contract between the two companies. As the Russian side did not take any action to resolve the issue out of court, Bulgargaz took the necessary steps to protect its interests.

The ICC Court of Arbitration in Paris is one of the most prestigious institutions in the world that administers the resolution of international commercial disputes.