A former unit of Gazprom has dismissed GAIL (India) Ltd’s $1.8 billion compensation claim for LNG non-delivery following the Ukraine crisis. SEFE Marketing Trading Singapore Pte Ltd stated in a stock filing that it owes only for defaulted cargoes. GAIL filed for arbitration in December, seeking compensation for non-delivery under a long-term contract, including defaulted volumes. The dispute underscores the impact of geopolitical tensions on energy contracts and highlights challenges faced by global energy markets.