A legal case filed by DEPA, the Public Gas Corporation, against Botas, Turkey’s state-run crude oil and gas company, in an attempt to lift a previous ruling in favor of Botas, which had called for an 180 million-euro payment to the Turkish enterprise for various natural gas pricing discrepancies between the two sides, is expected to be heard before a Swedish court in two to three weeks.
Botas had demanded a sum of around 300 million euros in retroactive payments for outstanding amounts resulting from various natural gas price revisions as far back as 2008. DEPA rejected the claim, prompting Botas to take legal action in 2011.
The Turkish company was partially vindicated by the court decision, which issued an order for DEPA to pay 180 million euros. However, the court excluded the year 2008 from its calculations of the sum to be paid.
The Greek gas company completed this payment in September, 2016, but then opted to file a case against Botas last year in an attempt to have the payment ruling cancelled. If DEPA wins this case, then Botas would need to return part of the 180 million euros it has received from DEPA.
It is not the only pending legal case submitted by DEPA against Botas. Last July, the Greek gas utility took legal action against Botas seeking a retroactive price revision to a contract signed by the two sides for Azerbaijani gas supplied to DEPA.
This case, submitted to the ICC, is based on two requests made by DEPA to Botas for price revisions, the first in 2011 and the second in 2016.
DEPA, which has sought a price reduction since 2003 for Azerbaijani natural gas supplied by Botas, decided it had no other choice but to take legal action. A hearing for this case is still a long way off.