Putin authorizes Russian company to take over German chemical company BASF subsidiary – NaturalNews.com naturalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalnews.com Daily Mail and Mail on Sunday newspapers.
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GAIL, an Indian gas utility, faced supply disruption due to sanctions imposed by Moscow on SEFE, a former unit of Russian energy giant Gazprom. GAIL filed an arbitration claim seeking USD 1.8 billion from SEFE for non-supply of LNG cargoes. SEFE, now state-owned by Germany, denied owing more than contractually limited amounts.
GAIL had in December last year filed an arbitration claim before the London Court of International Arbitration seeking USD 1.8 billion from SEFE for "non-supply of LNG cargoes under long-term contract."
A former unit of Russian energy giant Gazprom said sanctions by Moscow had led to disruption in its sources of supplies, leading to the default in supply to Indian gas utility GAIL.
GAIL had in December last year filed an arbitration claim before the London Court of International Arbitration