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CEZ: ICC tribunal bans Gazprom from placing gas dispute at Russian court
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CEZ: ICC tribunal bans Gazprom from placing gas dispute at Russian court
May 24, 2024 1:40 AM

PRAGUE, May 24 (Reuters) - An International Chamber of

Commerce (ICC) tribunal has prohibited Russia's Gazprom

from continuing with Russian legal proceedings against

CEZ, the Czech energy company said.

In a statement late on Thursday, CEZ said the ICC Tribunal

granted a request confirming that disputes between the companies

should be resolved in ICC arbitration, not in Russian courts.

In February 2023, CEZ sought compensation of around 1

billion crowns ($44 million) from Gazprom due to

lower-than-contracted gas supplies in 2022, in the wake of

Russia's invasion of Ukraine.

The Kremlin-controlled energy giant Gazprom last month filed

lawsuits against CEZ and others as it aimed to move court cases

to Russia from international arbitration.

CEZ said in its statement that Gazprom was bound by an

arbitration clause agreed with CEZ under which disputes related

to gas supplies would be settled before the ICC. It had applied

for an interim measure in this instance, which was given.

"The Tribunal granted our request, confirming that disputes

between the companies should be resolved in ICC arbitration, not

in front of Russian courts," CEZ said.

Gazprom did not immediately reply to a request for comment.

On Wednesday, a Russian court ruling banned Austrian energy

company OMV Gas Marketing and Trading GmbH from

pursuing arbitration proceedings in Stockholm against Gazprom's

exporting arm.

The court threatened to fine OMV 575.2 million euros. OMV

said it considered the Russian legal proceedings to be

illegitimate.

The Czech Republic was nearly completely dependent on

Russian gas supplies, mostly through the Nord Stream pipeline

and Germany, until 2022 when Russia reduced shipments as

relations with the West deteriorated sharply. It has replaced

supplies with pipeline and LNG gas from other sources.

($1 = 22.8330 Czech crowns)

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