The Claimant ("GPE") is owned by Gazprom PJSC (which in turn is more than 50% directly or indirectly owned by the Russian Federation) and supplies natural gas to Bulgaria. GPE and Gazprom PJSC on the one hand and companies controlled by the Second Defendant ("Mr Dontchev") on the other hand entered into a joint venture. Pursuant to the joint venture, GPE/Gazprom PJSC and the Fifth Defendant ("Overgas Holding") each hold a 50% shareholding in the Fourth Defendant ("Overgas Inc"). Mr Dontchev controlled Overgas Holding through the First Defendant ("DDI Holdings") and the Sixth Defendant.
GPE and Overgas Inc had entered into a gas supply contract ("the Supply Contract") whereby GPE agreed to supply Overgas Inc with natural gas from 1st January 1997. GPE ceased to supply gas under the Supply Contract on 31st December 2015. GPE claims that approximately US$105 million was owing by Overgas Inc to GPE under the Supply Contract.
In February 2016, Overgas Inc commenced ICC arbitration proceedings against GPE in Switzerland. In those ICC arbitration proceedings, Overgas Inc claimed damages against GPE on the ground that GPE allegedly had acted in breach of EU and Bulgarian competition law and in breach of the Supply Contract and claimed a right to set-off those damages against the US$105 million owed to GPE. In the same ICC arbitration proceedings, GPE counterclaimed for US$105 million.
On 12th December 2018, the ICC Arbitral Tribunal - constituted by Mr Christer Söderlund, Professor Kaj Hobér and Professor Vladimir Yarkov - by its Award ("the ICC Award") dismissed Overgas Inc's claims for breach of competition law and for breach of the Supply Contract and allowed GPE's counterclaim. Overgas Inc applied to challenge the ICC Award before the Swiss Federal Tribunal, but the application was dismissed in June 2019.