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Tribunal backs Costa Rica in dispute with Zeta Gas

Monday, March 13, 2017


An international tribunal has sided with the Costa Rican government in a dispute brought by the shareholders of a gas company claiming that the country's public utility regulator arbitrarily fixed prices for liquid petroleum gas.

Costa Rica's Ministry of Foreign Trade announced Wednesday that the International Centre for the Settlement of Investment Disputes tribunal has determined that the Costa Rican government “did not cause any damage to the Gas Nacional Zeta Company” in the $75 million dispute. The tribunal ordered Gas Zeta to cover 50 percent of Costa Rica's expenses, according to the government.

Source: Law 360