Enagás Wins $194 Million Arbitration Case Against Peru

An update from Enagas SA ( (ES:ENG) ) is now available.

Enagás has won an arbitration case against the Republic of Peru, with the International Centre for Settlement of Investment Disputes ruling in its favor. Peru has been ordered to pay Enagás $194 million due to breaches of the Peru-Spain Agreement for the Promotion and Reciprocal Protection of Investments related to Enagás’s investment in the Peruvian Gas Pipeline project. The ruling also addresses restrictions on repatriating dividends from Enagás’s subsidiary in Peru, which were deemed violations of the agreement. This decision will result in an accounting loss for Enagás due to the discrepancy between the awarded amount and the receivable account recorded in their balance sheet. The company is seeking an amicable resolution with Peru and remains committed to its investment plans, including renewable hydrogen infrastructure projects.

The most recent analyst rating on (ES:ENG) stock is a Hold with a EUR13.50 price target. To see the full list of analyst forecasts on Enagas SA stock, see the ES:ENG Stock Forecast page.

More about Enagas SA

Enagás S.A. is a company operating in the energy sector, primarily focusing on the development and management of gas infrastructure. It is involved in international projects and investments, with a particular emphasis on renewable hydrogen infrastructures, which are crucial for the European decarbonization project and long-term energy security.

YTD Price Performance: 19.27%

Average Trading Volume: 1,136,447

Technical Sentiment Signal: Buy

Current Market Cap: €3.67B

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