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Thursday, August 14, 2014
CNPC will find itself in a Paris arbitration court facing Chad if the African nation’s plans move forward. According to reports out of the country the government will initiate arbitration against the Chinese firm for $1.2 billion as compensation for breaking environmental laws. The government decided to take CNPC to court after talks between the two failed.
Abdoulaye Sabre Fadoul, secretary-general of the Chadian government, in a Reuters report said that weeks of negotiations to reach an amicable solution to the dispute had failed. “That is why we have decided to take a complaint to the arbitration tribunal in Paris, as agreed under the terms of our contract with CNPC,” he said.
The tension between the two increased exponentially recently following Chad’s cancellation of five exploration licenses held by the firm. The government has also lodged a complaint against CNPC at a court in N’Djamena for environmental destruction and endangering lives.
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