“Turkmengaz” files a lawsuit against Iran-based NIGC to the International Court of Arbitrations

The Iranian news outlet Mehr reports that Turkmengaz executives have now officially announced that due to failure of talks with Iran over the gas row, they have filed a lawsuit against Iran in the International Court of Arbitration (ICA) and Iran will have to hand over its own evidence and documents to the international court.

Hamid Reza Araqi, managing director of the National Iranian Gas Company (NIGC) said the NIGC is preparing to submit the documents to the ICA and the Iranian and the Turkmen sides had already hired their own attorneys.

The court proceedings are expected to last for two years.

Let us recall that in late 2016 a public row broke out between Iran and Turkmenistan after Turkmengaz demanded that the NIGC settle the debt of $1,8 billion. The Iran media outlets reported that after lengthy negotiations the sides had come to mutual agreement. Despite this, on 1 January 2017 Turkmenistan cut off gas supply to Iran.

Over the past two years Iran has repeatedly threatenedTurkmenistan to file a lawsuit to the International Court of Arbitrations.

Source: Chronicles of Turkmenistan