Bulgarian company Bulgargaz started arbitration proceedings against Russian company Gazprom Export in the Arbitration Court of the International Chamber of Commerce in Paris on July 8, 2024, the press service of Bulgargaz said.

The filed lawsuit concerns compensation for damages of more than 400 million euros incurred as a result of the unilateral termination of natural gas supplies more than two years ago, at the end of April 2022.

According to a company statement, Bulgargaz sent an invitation to Gazprom Export at the end of May 2024 to voluntarily settle the Bulgarian company's claim in accordance with the contract between the two companies.

"Since the Russian side did not take any action to resolve the issue out of court, Bulgargaz took the necessary steps to protect the company's interests. The Court of Arbitration at the International Chamber of Commerce in Paris is one of the most prestigious institutions in the world that deals with the resolution of international commercial disputes," the company said in a statement.