Arbitration Tribunal Formed In UAE,Iran Gas Dispute
“The three-person arbitration tribunal, for the arbitration between Crescent Petroleum and the National Iranian Oil Company (NIOC), has now been officially formed, as per the contract procedures," the spokesman for Crescent told Dow Jones Newswires in an e-mail.
Crescent Petroleum started arbitration in July after NIOC failed for nearly four years to honor a contract to deliver gas from one of its offshore fields to the UAE.
The arbitration was filed with the Paris International Chamber of Commerce but a formal tribunal for arbitration on the case had yet to be formed until now.
Though Iran says it hasn't delivered the gas because of a pricing disagreement, Crescent blames bureaucracy and technical delays on the part of Iran's state-run sector.
-By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266; benoit.faucon@dowjones.com
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Publié le 08 novembre 2009 Copyright © 2009 Dowjones
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