Czech energy group ČEZ initiates arbitration against Russia’s Gazprom
ČEZ will sue Gazprom (Photo:REUTERS/Dado Ruvic/Illustration)
The ČEZ Group of Czech energy enterprises has initiated international arbitration against giant Russian gas company Gazprom, seeking to recover damages of 1 billion Czech krona ($45 million) for underdelivery of gas, the company reported on its site on Feb. 9.
"Yesterday, Feb. 8, 2023, ČEZ, a. s. formally initiated arbitration proceedings against Gazprom export LLC by submitting a Request for Arbitration under the rules of the International Chamber of Commerce (ICC)," the message on site reads.
The ICC is located in Geneva and hosts an arbitration tribunal.
Czech newspapers reported back in October that ČEZ Group was preparing to sue Gazprom.
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