Eni said to demand $10B from Statoil in arbitration

|By:, SA News Editor

Eni (E) reportedly is demanding NOK60B ($10.1B) from Statoil (STO), claiming it overcharged for natural gas over several years.

Eni said in August that it had started arbitration proceedings against STO to secure a significant price cut, but did not give any detail on its claim at the time.

The dispute stems from a 1997 supply agreement that ties natural gas prices to oil.