The Austrian energy operator Verbund has today announced that their dispute with EconGas, a subsidiary of the integrated oil and gas company OMV, over a gas supply contract has been settled. The contract refers to gas supplied by EconGas to a plant in Mellach, Austria. An expert report prepared by Frontier (Europe) was submitted to the antitrust court dealing with the dispute.
As a result of the dispute resolution, Verbund has raised its pre-tax earnings outlook for the second half of 2016 from the previous forecast of €840m to an estimated €960m.
Frontier was Verbund’s economic advisor in this dispute.
Frontier (Europe) regularly advises in high profile arbitration, litigation, investor dispute and private competition law enforcement cases.
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