Egypt Inks Deal With Spanish Gas Co. Over $2B Award

By Kelly Zegers (March 6, 2020, 6:07 PM EST) -- A Spanish gas company has told a D.C. federal court that it reached a deal with Egypt in late February to satisfy the country's liabilities under a $2 billion arbitral award stemming from a dispute over the cutoff of a natural gas plant's supply. 

Despite the series of agreements met on Feb. 27, Unión Fenosa Gas SA asked the court on Thursday for default judgment against Egypt to enforce the award issued by an International Centre for Settlement of Investment Disputes tribunal in August 2018.

"Although UFG is hopeful that all of the conditions for settlement will be achieved, until they...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!