Global Arbitration Review (GAR) Highlights PBX International Law’s Role in Investment Dispute Against Equatorial Guinea
Global Arbitration Review (GAR) recently published an article on Gas and Welding S.L. v. Republic of Equatorial Guinea, an international investment dispute concerning the expropriation of a strategic energy-sector project, in which PBX International Law acts as counsel to the Spanish investor.
The article reports that Gases & Welding S.L. (G&W) submitted a Notice of Dispute on 10 March 2026 under the 2003 Bilateral Investment Treaty between Spain and Equatorial Guinea, initiating the amicable settlement period provided for under the treaty.
G&W’s investment in Equatorial Guinea dates back more than two decades, when the company became the country’s first producer of acetylene and began supplying essential industrial gases, including argon, nitrogen, and oxygen, to various industrial sectors.
The company later participated in the establishment of Gas Guinea S.A., a company dedicated to the storage, bottling, and distribution of gas for domestic and industrial purposes, together with Sonagás S.A., Equatorial Guinea’s state-owned company. The project was aimed at strengthening the country’s energy security and ensuring, for the first time, a continuous supply of gas in the mainland region.
As reported by GAR, the dispute arises from actions and omissions allegedly attributable to the State that, according to the investor’s position, resulted in the loss of its control over Gas Guinea, restrictions on its access to the project, and the expropriation of assets. The investor alleges breaches of the protections provided under the bilateral investment treaty, including fair and equitable treatment, full protection and security, protection against arbitrary or discriminatory measures, and expropriation.
Pablo Parrilla, Partner at PBX International Law, stated that the loss of Gas Guinea represents “one of the most significant confiscations suffered by a Spanish investor at the hands of Equatorial Guinea” in connection with a strategic investment in an essential and high-impact industry such as the gas sector.
PBX International Law thanks Global Arbitration Review for its coverage of this case and for its contribution to highlighting significant developments in international arbitration and international investment law.
Link: https://globalarbitrationreview-com.peacepalace.idm.oclc.org/article/spanish-industrial-gas-exporter-threatens-equatorial-guinea
