Moldova's Ascom sues Kazakhstan government in Stockholm over asset seizure.

By bne IntelliNews September 9, 2010
Ascom, the oil and gas exploration group in Moldova, has submitted a request for arbitration to a Stockholm court against the Kazakh government. According to the company's statement the Request for Arbitration submitted to the Arbitration Institute of the Stockholm Chamber of Commerce regards systematic campaign of harassment, unjustified cancellation of subsoil contracts of Ascom's local operating companies Kazpolmunai and Tolkynneftegaz and illegal seizure of its Kazakh assets in July 2010. These assets are now being operated by state-owned KazMunaiGas. Ascom is the largest oil and gas company in Moldova with commercial operations in Kazakhstan, Turkmenistan and Sudan.

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