International Court of Arbitration

Turkish citizen Osman Zeki Yalç?n has been appointed as director-general of the Jerusalem Arbitration Center (JAC), joining JAC co-chair Rifat Hisarc?kl?o?lu, who is also the head of the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
 

Iran has accepted a recent decision by the International Court of Arbitration over discounted Iranian gas being sold to Turkey and will meet the decision by giving Turkey more gas or through cash payments, a senior Iranian official has said in an exclusive interview with Anadolu Agency. 

The International Court of Arbitration has ruled against Iran in its gas dispute with Turkey, Shana news agency quoted the managing director of the National Iranian Gas Company, Hamid-Reza Araqi, as saying Feb. 2.

The International Court of Arbitration has ruled against Iran in its gas dispute with Turkey, saying that Iran must offer 10-15 percent of discount on gas sold to Turkey. 

Based on the ruling, Turkey had asked 35.5 percent of discount on Iranian gas, Shana news agency quoted the managing director of the National Iranian Gas Company, Hamid-Reza Araqi, as saying on Feb. 2.

Turkey has taken Russia to international arbitration over a natural gas price dispute, Turkish Energy Minister Ali Riza Alaboyun has said.

"We have demanded a discount from Russia, and the arbitration court will rule on it," Turkey's Anadolu Agency quoted Alaboyun as saying on Tuesday.

Iran and Turkey need to form a new natural gas deal to gain price discounts in the gas trade, Iranian Ambassador to Turkey Alireza Bikdeli said on late June 22. 

Speaking to members of the Economy Journalists Association in Ankara, Bikdeli discussed possible solutions to the natural gas price dispute between Turkey and Iran.

Turkey's Tekfen Holding has stated that its construction unit, Tekfen ?n?aat, has opened a case at the International Court of Arbitration of The International Chamber of Commerce (ICC) against the Libyan Man-Made River Authority (MMRA) and the state of Libya, over its losses in the country since 2011. 

Czech company Energo-Pro, which supplies electricity to northeastern Bulgaria, has filed an arbitration claim against Bulgaria at the World Bank's International Centre for Settlement of Investment Disputes (ICSID).

The arbitration claim was filed on May 26, 2015.

The ICSID has not yet designated a panel of arbitrators to handle the claim.

Iran has proposed doubling exports of its natural gas for a discount in prices, but Ankara has rejected the offer, Iranian Oil Minister Bijan Namdar Zanganeh stated on April 14.

"Enel is confirming that the disposal process for its assets in Romania has been temporarily suspended after reaching the target for debt reduction at the end of 2014," a company representative announced on Thursday.