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Eni SpA Demands USD 10 Billion from Statoil ASA in Arbitration-Reuters

Friday, 8 Nov 2013 02:09am EST 

Reuters reported that Eni SpA demands NOK 60 billion (USD 10 billion) from Statoil ASA, claiming it overcharged for natural gas over several years. ENI announced in August 2013 that it had started arbitration proceedings against Statoil to secure a significant price cut, but did not give any detail on its claim at the time. The dispute stems from a 1997 supply agreement that ties natural gas prices to oil. 

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