De Brauw Blackstone Westbroek has advised GasTerra, an international company trading in natural gas, on a USD 1.1 billion UNCITRAL award against Italian energy company Eni in a dispute over the price payable under one of two long-term gas supply contracts. GasTerra claimed a price increase because of the exceptional oil price increase between 2002-2006.
Two arbitrations were started under the ICC and UNCITRAL rules. In phase one of the arbitrations, GasTerra's claim that the price should be increased was allowed, but Eni's counterclaims for a price decrease were denied. The arbitrations continued after parties failed to reach agreement on the extent of the price increase. The tribunal in the UNCITRAL arbitration awarded GasTerra a price increase, equaling approximately EUR 850 million. The increased price applies to future deliveries under the contract as well.
A dispute between the same parties over the price under their other gas supply contract is pending before an ICC tribunal. GasTerra is represented in both arbitrations by a team lead by Marnix Leijten of De Brauw Blackstone Westbroek.
Team: Marnix Leijten, Bregje Korthals Altes, René van Tricht, Albert Marsman, Sander Kooijman
Two arbitrations were started under the ICC and UNCITRAL rules. In phase one of the arbitrations, GasTerra's claim that the price should be increased was allowed, but Eni's counterclaims for a price decrease were denied. The arbitrations continued after parties failed to reach agreement on the extent of the price increase. The tribunal in the UNCITRAL arbitration awarded GasTerra a price increase, equaling approximately EUR 850 million. The increased price applies to future deliveries under the contract as well.
A dispute between the same parties over the price under their other gas supply contract is pending before an ICC tribunal. GasTerra is represented in both arbitrations by a team lead by Marnix Leijten of De Brauw Blackstone Westbroek.
Team: Marnix Leijten, Bregje Korthals Altes, René van Tricht, Albert Marsman, Sander Kooijman