CEZ initiated arbitration against Gazprom

Yesterday, 8 February 2023, CEZ, a. s. formally initiated arbitrationproceedings against Gazprom export LLC by submitting a Request forArbitration under the rules of the International Chamber of Commerce(ICC). CEZ seeks to recover damages of approximately CZK 1 billionarising from Gazprom export LLC's significant underdeliveries of naturalgas supplies in 2022. The arbitration is seated in Geneva and will besettled by a three-member arbitral tribunal.