How we helped
ICSID engaged Castalia to provide independent advice directly to the arbitration panel on how to estimate the quantum of damages. To do this, we used a model of the wholesale gas market within Argentina, and between Argentina, Chile and Bolivia. We examined the data on actual prices and volumes sold by Mobil and compared these to the prices and volumes that would have prevailed, had the changes in rules and regulations not taken place. Comparing this counterfactual to the actuals provided a well-reasoned basis for quantifying damages, which the arbitration panel was able to rely on.