MITSY - Chevron resumes arbitration in Thailand gas dispute

Chevron ([[CVX]] -0.8%) says it has resumed arbitration proceedings with Thailand's government to try to resolve a dispute over who should pay for removing offshore assets in the Erawan gas field.The move comes a year after Chevron suspended the legal process to allow more time for talks with Thailand's energy ministry, ahead of the end of its Erawan concession in April 2022.Thailand asked Chevron to pay the full ~$2B in decommissioning costs for assets in the Erawan gas field, including those it will hand over to state-owned PTT.Chevron argues, under the terms of its initial contracts from 1971, it is only liable for infrastructure that is no longer deemed usable and that the transferred assets are the responsibility of the new operator.The case has implications for Total (TOT) and Mitsui (MITSY), which also have stakes in soon-expiring offshore energy concessions in the Gulf of Thailand.

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Chevron resumes arbitration in Thailand gas dispute