Union Fenosa Gas v. Egypt

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Case Details

Year of Filing: 2014

Case Status: Annulment Concluded

Claimant(s): Union Fenosa Gas S.A.

Respondent(s): Arab Republic of Egypt

Arbitral Rules: ICSID

Legal Instrument: Treaty

Treaty: Egypt-Spain BIT

Administrative Case Number: ARB/14/4

Arbitral Tribunal

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Major Developments

Key Decision:

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Counsel

Counsel for Claimant:

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Counsel for Respondent:

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Renewed settlement leads to discontinuation of $2+ billion Egyptian gas case Mar 14, 2021

Egypt round-up: a settlement agreement, a new tribunal, and an update on 11 other arbitration claims against the state Jun 17, 2020

Battle over $2 billion award continues as Union Fenosa settlement falls through due to pandemic Apr 24, 2020

Egypt settles dispute over LNG plant, thus drawing line under $2+ billion Union Fenosa arbitration Feb 28, 2020

$2+ billion Egypt award is cleared to be enforced, after ICSID ad hoc committee lifts stay of enforcement Jan 28, 2020

Three are named to review $2 billion BIT Union Fenosa Gas award against Egypt Apr 24, 2019

Union Fenosa v. Egypt: in now-surfaced award, tribunal dismisses necessity defence and sees no abuse in investor pursuit of multiple arbitrations Oct 22, 2018

Analysis: tribunal fractures on whether corruption was at root of foreign investor’s hiring of local agent who enjoyed “influence” over key government officials Oct 22, 2018

ICSID tribunals hearing separate Egyptian gas cases adopt diverging holdings on attribution question and on BIT-compatibility of revocation of tax-free status Oct 22, 2018

Tribunal of Veeder, Rowley and Clodfelter diverge with respect to key holdings in recent award Sep 13, 2018

Arbitrators hold Egypt liable for more than $2 billion as a result of unfair treatment of gas plant investors Sep 3, 2018

Arbitrators finalized in three proceedings: Bear Creek v. Peru, Krederi v. Ukraine and Unión Fenosa Gas, S.A. v. Egypt Dec 10, 2014

Egyptian LNG dispute lands at ICSID; cancelled licenses in Gambia open door to arbitrations, including by investor previously at odds with Sierra Leone Mar 25, 2014