Sempra Wins $172M in dispute with Argentine gas companies

The International Centre for Settlement of Investment Disputes in Washington, D.C., has awarded Sempra Energy $172 million according to a report in the San Diego Business Journal. The award was to settle a 2002 dispute involving the company’s 43 percent ownership in two Argentine natural gas holding companies. “We hope that the government of Argentina will honor its legal obligations as we seek immediate enforcement of the award,” said Javade Chaudhri, executive vice president and general counsel for Sempra. Sempra had the interest in Sodigas Pampeana and Sodigas Sur. In a statement, Sempra says the dispute involved its efforts to recover the utilities’ diminution in value that occurred as a result of measures taken by the Argentine government in 2002.