Squire Patton Boggs has represented Italian utility, Edison S.p.A., in its victory in one of the year’s largest price review claims, Ras Laffan Liquified Natural Gas Company Limited (II) v. Edison S.p.A. (ICC Case No. 24707/GR).
The claim against Edison was brought by Qatargas, the Liquified Natural Gas (LNG) division of state-owned Qatar Petroleum, which sought a price increase worth several hundred million euros under a 25-year contract for the purchase of LNG.
The Squire Patton Boggs team was led by global co-chair of the firm’s International Dispute Resolution Practice, Stephen Anway (New York), and included Stephen Fazio (Cleveland), Michelle Bock (Brussels), David Alexander (Columbus), Tim Flamank and Sara Love (London), and Douglas Pilawa (Cleveland).
Mr. Anway said: “This was an incredibly hard-fought case, which involved a team of lawyers from five of our offices working seamlessly with in-house counsel Marco Lorefice and a talented team at Edison.
“The tribunal’s award fully vindicates Edison’s position that Qatargas’ claim was baseless, and appropriately denied it in full. We are grateful that the tribunal brought the matter to conclusion so quickly.”
This is Squire Patton Boggs’ third price review case for Edison, securing a €450 million award in the client’s favor in its arbitration against Rasgas (ICC Case No. 17788) and a €300 million award against Sonatrach (ICC Case No. 18123/ND).
Squire Patton Boggs was named “International Arbitration Practice of the Year” by Law360 in 2020. The firm is also recognized as a GAR 30 firm in Global Arbitration Review’s prestigious annual ranking of the top 30 international arbitration practices in the world.