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FINANCIAL NEWS
Qatar’s RasGas loses arbitration for Italy’s Edison over LNG prices
13 Sep 2012
(MENAFN) The International Chamber of Commerce’s court of arbitration had ruled in favour of Italian energy group Edison in its renegotiations for the pricing of its long-term LNG contracts with Qatar’s RasGas, Reuters reported.
The victory comes a year after Edison won a similar case over Russia’s Gazprom, paving the way for other European firms to secure cheaper energy and ease costs for cash strapped consumers.
The company said the court has ordered RasGas to sell its LNG to Edison at USD578 million discount.
European utility firms have been struggling to reduce the gas price they are under their long-term supply contracts, which tend to be indexed to the price of crude oil.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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