Parties agree that instead of USD, Final Award’s payment currency be expressed in RUB when payable to PM, and in VND when payable to PVN

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Tribunal orders PVN to bear costs totaling to 10 million USD, plus simple interest at the rate of 5.33% per annum

PVN is ordered to bear portion of PVTC’s costs for eleventh-hour withdrawal of crossclaim against second respondent

Tribunal disagrees that experts exhibited inappropriate behavior; costs of arbitration fall on PVN

Claimant’s claim for costs is subject to 30% reduction for unsuccessful but cost-intensive force majeure claim

Nearly all costs claimed by claimant are reasonable; tribunal refuses to award local counsel fees and success fee

Tribunal issues costs ruling mindful of parties’ successes and failures

Tribunal awards claimant simple pre and post-award interest at a rate of 7.27% per annum

Tribunal denies PVN’s claim for financing damages, seeing no breach of PM’s financing obligations

PVN succeeds with delay liquidated damages claim, securing compensation of 22.8 million USD

Tribunal sees no reason to address PVN’s counterclaim arising out of termination of EPC; crossclaim against PVTC is withdrawn

Claimant is awarded 6.3 million RUB for PVN’s unlawful call on performance bond

PM is awarded compensation for preservation works carried out on PVN’s instruction after termination of EPC Contract

Arbitrators dismiss PM’s claim based on unaccounted steel structures, finding that Vietnamese government had not approved additional steel works

Claimant is entitled to deferred payment charges of 34.7 million USD due to PVN’s failure to pay outstanding obligations caused by delay in financing arrangement

PM is awarded costs of staff repatriation, including for employees’ spouses and dependents

PM fails to substantiate claim for other costs allegedly arising out of termination of EPC Contract

Arbitrators consider that granular approach of Project’s progress better captures value of claimant’s work done, and awards PM over 307.7 million USD on this count

Tribunal adopts cost-based approach in valuing PM’s claims for works completed

Non-payment constitutes valid ground for termination of EPC Contract; difficulties in executing US-denominated payments could not be entirely attributed to either party

Valid Second Termination Notice overrides and supersedes ineffective First Termination Notice

Arbitrators find that Vietnamese law recognizes contractual notice of termination

Under Vietnamese law, wrongful termination brings contract to an end

PM’s purported termination of EPC Contract on force majeure grounds was ineffective

PM undertook no reasonable efforts to overcome US sanctions

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