LCIA Orders Kurdistan To Pay $1.9 Billion Award Over Gas Field Development

(November 30, 2015, 12:03 PM EST) -- SHARJAH, United Arab Emirates — A United Arab Emirates (UAE) gas company on Nov. 29 announced that a London arbitral tribunal has issued a $1,981,951,322 award in its favor and against the Kurdistan Regional Government of Iraq (KRG).

Dana Gas PJSC said in a news release that the London Court of International Arbitration (LCIA) has issued an award for it and Crescent Petroleum and Pearl Petroleum Company Limited (collectively, the consortium) in relation to their long-term contract with KRG.

Award

Dana Gas said that a hearing...
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