What is the core dispute between Galp and Mozambique that led to the ICSID arbitration filing?

The core dispute centers on Galp's 2024 sale of its 10% stake in the Area 4 Rovuma Basin project offshore Mozambique to XRG (a subsidiary of Abu Dhabi National Oil Company), and the Mozambican government's assertion that Galp owed a larger capital gains tax amount than it paid; Galp received approximately $881 million after finalizing the deal in 2025 and maintained that this sum was inclusive of all capital gains taxes due.

Which major energy projects are included in the Area 4 Rovuma Basin, as mentioned in the news?

Area 4 includes Eni's operational Coral South floating liquefied natural gas (FLNG) platform, its sister Coral North FLNG project (currently under development), and an onshore LNG terminal project proposed by operator ExxonMobil.

Portugal's Galp files for arbitration in tax dispute with Mozambique, ICSID website shows

Jul 10, 2026

Portuguese energy firm Galp filed arbitration against Mozambique over a tax dispute concerning its 10% stake sale in the Area 4 Rovuma Basin oil project to XRG. The case involves disagreements over capital gains taxes following the $881 million transaction.

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