Galp invokes agreements with Portugal and the Netherlands in dispute with Mozambique

Galp has initiated an international arbitration process against Mozambique, referencing bilateral investment agreements with Portugal and the Netherlands. These agreements include mechanisms for conflict resolution between investors and states, according to ECO.

The dispute relates to a tax issue involving the sale of a 10% stake in Galp’s natural gas project in the Rovuma Basin. The legal confrontation is now being addressed at the International Centre for the Settlement of Investment Disputes.

Galp bases its action on the need to protect its investments under the aforementioned agreements. This conflict dates back to tax issues that arose during negotiations for the sale of its stake in the project.

As the arbitration progresses, details regarding the next steps in the process are yet to be revealed. The involved parties are awaiting developments that may impact the outcome of the dispute.

The agreements invoked by Galp were established to provide a legal framework that protects the interests of foreign investors. The validity of these agreements will be a crucial point in the arbitration.

The situation continues to evolve, and Galp's dealings with the Mozambican authorities will remain under scrutiny as new information about the dispute unfolds.