Cairo – Mubasher: A French tribunal rejected the arbitral case filed by the Spanish Egyptian Gas Company (SEGAS) against the State-owned Egyptian Natural Gas Holding Company (EGAS)
Accordingly, EGAS will not pay $270 liquidated damages (EGP 2.4 billion) plus interests to the Spanish (SEGAS), the French tribunal decided.
Earlier, SEGAS went for arbitration in 2013 against the Egyptian company at the International Chamber of Commerce in Paris over the amount of gas supplied to the former.
