[DISCLOSURE] GE filed a compensation claim worth US$20 million against S&TC (100840) regarding Ichthys liquefied natural gas project, the company announced on Aug. 11.
S&TC explained that it signed a 42.2 billion won (US$38.35 million) supply contract with GE to supply heat recovery steam generators and delivered the requested products on time.
“GE is asking for compensation 2 years past the delivery. If GE takes this matter to arbitration, we will take legal action against them,” the company added.
S&TC explained that it signed a 42.2 billion won (US$38.35 million) supply contract with GE to supply heat recovery steam generators and delivered the requested products on time.
“GE is asking for compensation 2 years past the delivery. If GE takes this matter to arbitration, we will take legal action against them,” the company added.