Following a partial award in April 2017, in which the tribunal found the termination of the gas supply deal by the respondents, Egyptian State-owned entities, Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS), to be without legal merit, on 31 January 2018, a CRCICA tribunal seated in Cairo ordered EGPC and EGAS to pay Shahid Law’s client, East Mediterranean Gas (EMG), damages exceeding US$ 1 billion for their undue termination of the gas supply contract.
Full details of the proceedings can be found on the GAR website at: https://globalarbitrationreview.com/article/1153477/egypt-to-pay-for-terminating-gas-supplies-to-israel.
