Gas firm BG suspends Kazakhstan legal action
UK gas producer BG Group (BG.L) said it had suspended legal proceedings against the Kazakh government over $1 billion in export duties it was forced to pay, in the hope of a negotiated settlement, Reuters reported.
"We've suspended that process while we sit down and have further discussions. We, too, would like to find an amicable solution to these issues," Chief Executive Chapman told reporters on a conference call.
The BG-led consortium, which is developing the Karachaganak field, was forced to pay duties which it said were not liable to under the terms of its contract.
"I'm optimistic that we will not have to go through a (legal) process," Chapman said.