oil companies royal Dutch Shell and ExxonMobil and the government have not reached an agreement on the amount of compensation for the withdrawal of the gas extraction in Groningen, the netherlands, writes to minister, Eric Wiebes (Economic Affairs), on Tuesday, in a letter to the house of commons.
It’s going to be a reimbursement of the costs of the gas storage facility in the village of Norg, and the lower income due to the accelerated phase-out of the gas.
“the Parties are unfortunately not able to make it by way of negotiations on all items to come to an agreement,” writes the Wiebes. Therefore, the case shall be referred to an independent arbitration panel.
The extraction of natural gas in Groningen in the netherlands will be in 2022, instead of in 2030, it is stopped. The gas in It is the principeafspraak the storage all the way to september, 2027 shall be used. The additional cost to do so, the parties are unable to agree with this. The arbitration panel has to be that right now going to calculate.
The lost revenues due to the faster reduction of the gas, are another point of contention. Royal Dutch Shell and ExxonMobil, which, in Groningen, the netherlands, will operate under the banner of the name, would be a consideration. The State would not have to pay for it. Also, this is a matter to be referred to the arbitration panel.
royal Dutch Shell and ExxonMobil, to get 90 million for lost earnings
In september of last year, ditches, Wiebes, and TOOK a tentative agreement on the accelerated phasing-out. Therein, it was agreed that royal Dutch Shell and ExxonMobil, of the 90 million would have to be compensated. Last week, the General Court added that it is unclear what will happen with the amount that actually is spent.
Wiebes wants to be in the Room alone, behind closed doors, to inform you about the follow-up process. “I am committed to confidentiality in regard to the procespositie of the arbitration,” said the minister.