IGEDC Wins Lawsuit Against French Firm

Date: 10 April 2022 - 21:49

News ID: ۱۰۱۴۶۶

TEHRAN – The CEO of Iranian Gas Engineering and Development Company (IGEDC) Reza Noshadi on Sunday announced the €39 million ruling of the International Court of Arbitration in favor of Iran, and added that Iran has won a legal lawsuit with the French company Sofregaz.
Addressing a press conference, Noshadi said, “After the return of sanctions, the French company Sofregaz did not fulfill its commitments based on a contract with Iran. That contract was signed with the Iranian Gas Storage Company and after its dissolution, it was transferred to the Iranian Gas Engineering and Development Company.”
He stated: “The French company, Sofregaz, claimed €26 million against Iran in the International Court of Arbitration, and while we are more familiar with losses in international arbitration and the media and press also deal with them in detail, this time we claimed the opposite.”
Noshadi emphasized: “The result of the follow-up in the initial ruling of the International Court of Arbitration, which was announced in February, not only was that the claimed €26 million was not approved, but also €13 million must be paid to us.”
He said that the whole case was also handled by an Iranian lawyer, adding: “They only had a 1.5-million-euro status report with us, which we had blocked to determine the fate of the lawsuit. On the other hand, the French side requested an appeal, which was overruled.”