Dana Gas says KRG risks sanctions after missing $100 million

Kurdistan (IraqiNews.com) On Monday, Dana Gas Emirates said that the Kurdistan’s Regional Government (KRG) regional government of Kurdistan could face sanctions after missing $100 million to a consortium of Dana Gas.

Dana said in a statement today, that the company warned the KRG that it could face sanctions if it would fail to pay the money to its consortium, which includes Crescent Petroleum and Pearl Petroleum Co, according to the bourse.

“Dana Gas and its consortium partners reiterate their continued commitment to the contract, the Kurdistan region and all of Iraq, and sincerely hope that all outstanding contractual matters with the KRG will be resolved, amicably and in good faith in the shortest possible time, within the contractual framework,” the statement said.