Edison SpA (EDN.MI) said Monday its board has agreed to file arbitration proceedings against the long-term natural gas supplies of Qatari supplier RasGas, as the Italian energy company seeks to turn its operations around.

"The purpose of the arbitration proceedings is to enforce Edison's right to earn reasonable margins," Edison said in a statement.

The Milan-based company said it has started dispute resolution proceedings for gas from Libya. In the past it has also said it is ready to commence such action against Russia's OAO Gazprom (GAZP.RS).

Edison estimates that its 2011 earnings before interest, taxes, depreciation and amortization, or Ebitda, will be negatively impacted by some EUR200 million by the long-term gas contracts, with this year's total Ebitda forecast at around EUR900 million.

Edison has scheduled a board meeting for next Monday to approve the 2010 results.

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
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