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More battles ahead for Dana after partial victory against KRG
An important interim judgement favouring Sharjah-based Dana Gas in its case against the Kurdistan Regional Government (KRG) at the London Court of International Arbitration (LCIA) has placed the authorities on the back foot, at a time when they desperately need cash for the budget and gas for power generation. Dana’s dispute with the KRG over its rights to the Khor Mor and Chemchemal gas fields started in 2009 and the arbitration was launched in October 2013. Dana’s 5 July disclosure to the Abu Dhabi stock exchange, detailing its expectations of a $2bn pay-out, provoked a strongly worded Kurdish rebuttal.
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