Edison has won the arbitration with Eni on the prices of the long-term gas supply to Libya. The positive impact on the 2012 financial statements is estimated at over 250 million euros on Ebitda. The company announced this in a press release, explaining that "today the court of arbitration of the Icc - International chamber of commerce - notified the arbitration award between Edison and Eni regarding the revision of the price of the long-term term of supply of natural gas from Libya".
The Arbitration Tribunal deemed Edison's 2010 price review request "valid in form and substance, fully accepting the company's requests." The Court reserved the right to decide on interest, legal costs and the exact amount owed by Eni on the basis of the new contractual price for the retroactive period.
The procedure relating to the agreements for Algerian gas is currently pending, the conclusion of which is expected in 2013.
On September 11, Edison "had positively closed a similar arbitration with the Qatari company RasGas (6,4 billion cubic meters of gas)", explains the company. Last year, Edison successfully completed the renegotiation of long-term gas contracts with Promgas from Russia (2 billion cubic metres) and Eni from Norway (1,4 billion cubic metres).
