Argentina loses gas award appeal

The Supreme Court in Washington has rejected Argentina’s appeal of a British natural gas company’s multi-million dollar award against the government.

The justices today let stand without comment an arbitration tribunal’s award of $185m (€147.15m) to BG Group in a dispute with Argentina over a natural gas development.

It was the second time the high court has considered the case.

Earlier this year, the justices reversed the federal appeals court in Washington, DC, which had thrown out the award.

In the latest appeal, Argentina argued that the tribunal disregarded the law in reaching its decision. But the same federal appeals court ruled against Argentina.