The case concerned an alleged breach of contract related to the gas business of Croatian energy company INA, in which Hungarian oil and gas company MOL holds management rights.
MOL was ordered to pay Croatia arbitration and administration costs totaling EUR 775,000.
The Hungarian company had sought EUR 36.2 million in damages. Alternatively, it sought EUR 91.1 million in damages for INA.
In a press release Wednesday, MOL said the decision dismissing its request for compensation “creates a precedent that sends a serious message to foreign investors in future.”
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