Compass Lexecon expert Kenneth Grant was retained by a South American gas processor (Respondent) in an international arbitration matter initiated by an international oil company (Claimant). The dispute focused on the prices paid by Claimant for certain volumes of liquefied petroleum gas (LPG) purchased from Respondent under a long-term contract. Mr. Grant’s analysis demonstrated that Claimant’s theory of harm and measure of damages were at odds with the economics governing the supply of and demand for LPG, Claimant’s own actions, and the ex ante information available to market participants. The Tribunal, in finding for the Respondent, relied on the framework put forth by Mr. Grant and the Compass Lexecon team. In so doing, it denied Claimant’s harm of $90.4 million dollars plus interest, while awarding Respondent recovery of its legal costs. Mr. Grant was assisted by a team in our Boston office, including Nancy Bonn as well as others. We worked with Guy Miller Struve, James Kerr and Josh Liston from Davis Polk & Wardwell LLP who successfully defended the Claimant.