MADRID, May 26 (Reuters) - Spanish gas grid operator

Enagas said on Monday the World Bank's International

Centre for Settlement of Investment Disputes (ICSID) raised the

amount the company is entitled to be paid in an arbitration

process over a pipeline it built in the country.

ICSID ordered Peru to pay the company $302 million, up from

$194 million it awarded in its original ruling in December, the

company said in a filing to the stock market regulator.

Enagas had originally requested a $505 million compensation

from the Peruvian government and reported a capital loss of 246

million euros ($281 million) in the fourth quarter last year on

the amount it was entitled to by the first ruling.

($1 = 0.8763 euros)

(Reporting by Javi West Larrañaga, editing by Inti Landauro and

Emelia Sithole-Matarise)