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French utility initiates arbitration proceedings against Gazprom

Posted On: Feb. 22, 2023 9:54 AM CST

French utility firm Engie SA has initiated an international arbitration process against Russian energy company Gazprom PJSC’s subsidiary Gazprom Export LLC, seeking to recover damages and expenses over the lack of gas supplies in 2022, Upstream Online reported. Gazprom breached its long-term gas delivery contracts and deliveries to Engie were halted completely by end of August, after Gazprom refused to power up the Nord Stream 1 subsea pipeline carrying gas to Germany via the Baltic Sea.