Region: Turkmenistan

Turkmenistan joins New York Convention

Following a recent transfer of presidential power from father to son, Turkmenistan has become the 170th country and last former Soviet state to accede to the New York Convention.

11 May 2022

Turkmenistan defeats one ICSID claim and is hit with another

An ICSID tribunal has dismissed a third-party funded claim worth almost US$500 million brought by Turkish construction investors against Turkmenistan – just as another case against the Central Asian state is registered at the centre.

07 May 2021

UAE and Turkmenistan taken to ICSID

A Swedish national allegedly deported from the United Arab Emirates has filed an ICSID claim over his data storage business in the country – while Turkmenistan is also facing a new claim at the centre lodged by Turkish construction investors.

23 April 2021

Iranian state entity fails to overturn billion-euro award

A Swiss court has upheld an ICC award requiring the National Iranian Gas Company to pay over €1.5 billion to a Turkmen state entity, dismissing arguments that US sanctions make payment impossible.

25 February 2021

ICC panel rules in Turkmen-Iranian gas dispute

Turkmenistan’s national gas company Turkmengaz has reportedly been awarded around US$2 billion in an ICC claim concerning payments for the supply of natural gas to Iran.

30 June 2020

Turkmenistan to bring claim over US$1 billion potash plant

Turkmenistan is to begin arbitration against a company from Belarus, one of the few states with which it has steady economic relations, alleging delays in the construction of a US$1 billion potash fertiliser plant that is the largest in central Asia.

07 November 2018

Turkmenistan held liable for bridge project but escapes bulk of claim

AWARD NOW PUBLIC: An ICSID tribunal has ruled that Turkmenistan mistreated an investor in a project to build highway bridges but ordered it to pay only a small fraction of the US$50 million damages sought, GAR has learned.

27 January 2017

Iran - Turkmenistan gas supply dispute heats up

The national gas companies of Iran and Turkmenistan are apparently poised for international arbitration, after the latter cut off gas supplies to Iran on New Year’s Day.

04 January 2017

ICSID claim in the oven against Turkmenistan

After successfully bringing an ICSID claim against Turkmenistan over an expropriated poultry farm, German law firm Gleiss Lutz has served a notice of dispute on the central Asian state on behalf of the insolvency administrators of a 96-year-old German construction company that won a government tender to build grain mills and café-bakeries.

20 December 2016

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