Providing Economic Support in MOL v. Republic of Croatia

NERA Directors Marco Schönborn and Niko Czaplicki, Senior Managing Director Tomas Haug and Consultant Philip vom Baur were pleased to support the Republic of Croatia as economic experts in the UNCITRAL arbitration MOL v. Republic of Croatia, PCA Case No. 2023-09. The arbitration concerned claims brought by MOL alleging breaches of the Gas Master Agreement and the First Amendment to the Gas Master Agreement and seeking damages in connection with those alleged breaches.

MOL, the integrated Hungarian oil and gas company, is a shareholder in Croatia’s main oil and gas company INA. As announced publicly by the State Attorney’s Office of the Republic of Croatia, the arbitral tribunal rejected MOL’s claims in their entirety and ordered MOL to pay Croatia the tribunal and administrative costs of the proceedings, with interest.