Arbitration procedures in the “Attarat” case are still “ongoing” and its sessions are expected to extend until the beginning of 2024, with the ruling set to be issued following that date, approximately by mid-2024, an official source at Jordan’s Ministry of Energy and Mineral Resources said. In an exclusive statement to “Petra” on Sunday, the source noted the arbitration issue focuses on Jordanian government’s request to revisit the agreement due to the “grave injustice” triggered by the increase in electricity prices based on the pact signed in 2013. The source indicated that the agreement was signed with a consortium of Chinese, Malaysian and Estonian companies, noting the Jordanian government requested a reduction in the prices of electricity produced from Attarat oil shale project, and “did not ask for contract termination.” In late 2020, the government and National Electric Power Company (NEPCO) submitted an arbitration request to the International Chamber of Commerce (ICC) in Paris.
Source: Jordan News Agency