Kurdish government lashes out at Dana Gas

No sums outstanding, semiautonomous KRG says.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   July 16, 2014 at 10:03 AM

ERBIL, Iraq, July 16 (UPI) -- The Kurdistan Regional Government of Iraq said Wednesday it was upset with arbitration statements made by Emirati energy company Dana Gas.

Dana said in a Sunday statement it was successful with its application in an international court of arbitration in London against the semiautonomous KRG. The company said the court called for the restoration of "regular payments" owed to it by KRG's Ministry of Natural Resources

KRG said Wednesday the company violated a confidentiality clause in relation to the arbitration rules and subsequently aims to correct what it says were misleading statements by Dana Gas.

"Contrary to the assertions by Dana Gas, no sums are 'outstanding' from the KRG to Dana Gas," it said.

Further, KRG said Dana owes it $4.8 billion and the tribunal has yet to make a final determination on the issues of the case.

The Kurdish government said it would "vigorously" pursue its own claims against Dana Gas in all appropriate forums.

Dana produces around 300 million cubic feet of natural gas per day for the Kurdish electricity sector.

There was no public reply from Dana on the KRG statement.

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