Dana Gas scores win against Iraqi Kurds

Company is supplying gas to semiautonomous Kurdish region.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |  July 14, 2014 at 9:35 AM
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SHARJAH, United Arab Emirates, July 14 (UPI) -- Emirati energy company Dana Gas said it should start receiving payments from the Kurdish government in Iraq after winning a case in an international court.

The company said it was successful with an application in an international court of arbitration in London. In a statement Sunday, Dana Gas said the court ordered the semiautonomous Kurdistan Regional Government "to restore the previous regular payments to the companies as of March 21, the date of the application, and until the case is concluded."

Dana Gas in February disclosed the details of its arbitration case. It said it filed the case against the KRG to settle "payment of outstanding receivables owed to it by the KRG's Ministry of Natural Resources."

Dana said it was challenging a counterclaim made by the Kurdish government regarding the payments.

The company said it remained committed to the Kurdish government and was looking forward to a quick and amicable resolution to the row. This, it said, would enable the "full and proper" development of the region's reserve fields.

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

There was no statement from the KRG on the tribunal's decision.

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