Iraq: Pressure on KRG to settle multi-billion gas arbitration

Pressure is building on the Kurdistan Regional Government (KRG) to settle its multi-billion dollar arbitration battle with Sharjah-based Dana Gas, Crescent Petroleum and Pearl Petroleum consortium. The position of Dana and its partners has strengthened following a number of awards in their favour. A settlement would not only permit the cash-strapped KRG to negotiate payment terms, but would also trigger the rapid development of the disputed gas reserves.