Translation provided by JIGGSLAW®. Camuzzi Gas Pampeana, the Argentinian gas distribution company, has acknowledged the notification of a request for arbitration by Pan American Energy S.L.’s Argentinian subsidiary and Pan American Sur S.A. Claimants are seeking at the International Court of Arbitration of the International Chamber of Commerce (ICC) more than nine million dollars.
In a Relevant Notification sent to the Argentinian Financial Conduct Authority, Camussi elaborates that the arbitration proceeding is being initiated due to disagreements between the parties “concerning payments made with a type of change different from the one claimants understand as set out in certain of the natural gas sales and purchase contracts entered into with the company in its buyer capacity.”
According to the document, the amount sought is more than nine million US dollars. The arbitration was filed on February 16, 2023.
Camuzzi is Argentina’s largest natural gas distributor by volume, spanning 45% of the country in two adjacent regions.
Pan American Energy is jointly owned by BP and Bridas Corporation, a joint venture of Bridas Energy Holdings Argentina and CNOOC Limited China.
