Bulgargaz filed a lawsuit against Gazprom for 400 million euros

Bulgargaz has officially started arbitration proceedings against Russia's Gazprom Export for damages caused by the cessation of gas flow, equal to 400 million euros. The case has been brought before the ICC International Court of Arbitration in Paris, as announced by the Bulgarian public gas supplier on Tuesday.

Bulgargaz explains that the claim is for damages suffered as a result of the unilateral suspension of natural gas supplies more than two years ago, at the end of April 2022.

At the end of May 2024, the company sent an invitation to Gazprom Export for a voluntary settlement of the claim, according to the contract between the two companies. However, the Russian side did not take any action to settle the matter out of court during this period and Bulgargaz started the necessary steps to protect its interests.

The ICC International Court of Arbitration in Paris is one of the most authoritative institutions in the world that administers the resolution of international commercial disputes.

A number of energy companies in Europe have already filed lawsuits against Gazprom because the Russian state company unilaterally changed the contracts with the requirement for a special payment scheme in rubles.

More than two years ago - on April 26, 2022, Bulgargaz received a notification that natural gas supplies from Gazprom Export would be stopped.

Translated by Tzvetozar Vincent Iolov