Brief: Misen Energy submits investment dispute notice to the Government of Ukraine

Misen Energy AB (publ)

06/10/2015 15:49

Oct 6 (Reuters) - Misen Energy publ AB  MISE.ST : 
    * Misen Energy has submitted an investment dispute notice to the Government 
of Ukraine under the Ukrainian Swedish Bilateral Investment Treaty  
    * Misen notified Ukraine that a dispute has arisen between it and Ukraine 
concerning Misen's investment in Ukraine, and invited Ukraine to resolve the 
dispute by consultation and negotiation 
    * Ukrainian Government continues targeted discrimination against Misen' 
investments in Ukraine by applying a 70 percent royalty on gas prices fixed by 
the regulator 
    * If it continues to be applied, the 70% royalty will render it impossible 
for Misen to realize any return on its investments in Ukraine and ultimately may 
even force Misen to close its operations in Ukraine and lose the total value of 
its investment as well as the expected income for the 30-year life cycle of the 
investments, estimated at over $3 billion 
    * If the problems described in the notice of investment dispute cannot be 
settled with the Government of Ukraine within six months, Misen reserves its 
right to submit the dispute to international arbitration in accordance with the 
BIT 
 
Source text for Eikon:  ID:nWkrjf2545  
Further company coverage:  MISE.ST  
 
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