om e ast to we st idge s fr L e gal Pr ote c tion in tr - - PowerPoint PPT Presentation

T HE E U-E URASIA-CHINA BUSINE SS SUMMIT by the E c onomist and the Gr e e k E ur asian Busine ss Counc il

“ Building br

idge s fr

• m e ast to we st”

L e gal Pr

• te c tion in tr

ansnational inve stme nts unde r the E ne r gy Char te r T r e aty

• Ass. Profe ssor Dr. Antonis Me taxas

(PhD, F U Be rlin) Managing Partne r, Chair of E urope an L aw, Unive rsity of Athe ns

Outline

• E

ne rg y I nve stme nts: the ne e d fo r a sui g e ne ris pro te c tio n

• T

he E ne rg y Cha rte r T re a ty (E CT )

• I

nve stme nt Pro te c tio n unde r the E CT

• Dispute Re so lutio n unde r the E

CT

E ne rg y I nve stme nts: T he ne e d fo r a sui g e ne ris pro te c tio n

 I

nhe re nt c ha ra c te ristic s o f e ne rg y industry

 E

xpe nsive infra struc ture  c a pita l inte nsity

 Hig hly po litic a l issue s  Ma tte rs o f na tio na l so ve re ig nty

 T

ra nsna tio na l c ha ra c te r

• f

the inve stme nts

 Unsta b le do me stic le g a l re g ime

E ne rg y Cha rte r T re a ty - Ge ne ra l

 Only ma jo r multila te ra l tre a ty in the e ne rg y fie ld  L

a rg e st g e o g ra phic a l a nd c o untry c o ve ra g e

 Purpo se : Pro mo tio n o f lo ng -te rm c o o pe ra tio n in

the e ne rg y fie ld, b a se d o n c o mple me nta ritie s a nd mutua l b e ne fits (Art 2 E CT )

E ne rg y Cha rte r T re a ty – Sig na to rie s

E ne rg y Cha rte r T re a ty - I nve stme nt Pro te c tio n Pro visio ns (Art 10 E CT )

 Po st inve stme nt pro te c tio n o f inve stme nts  ‘ asse ts

asso c iate d with an e c o no mic ac tivity in the e ne rg y se c to r (Art 1 E CT )

 Ge ne r

al Pr inc iple s

fo r the pro te c tio n

• f

fo re ig n e ne rg y inve stme nts (Art 10 E CT ):

 F

AI R AND E QUI T ABL E T RE AT ME NT

 MOSTCONST

ANTPROT E CT I ON AND SE CURI T Y

 PROHI

BI T I ON OFUNRE ASONABL E OR DI SCRI MI NAT ORY ME ASURE S

 PACT

A SUNTSE RVANDA

 MOSTF

AVOURE D NAT I ON T RE AT ME NT(MF N)

E ne rg y Cha rte r T re a ty – Dispute Re so lutio n (Art 26 pa ra 2 E CT )

1.

Inte r na tiona l Ce ntre for Se ttle me nt

• f

Inve stme nt Dispute s (ICSID)

(pro vide d tha t b o th pa rtie s a re sig na to rie s to the Wa shing to n Co nve ntio n)

2.

ICSID Additiona l F a c ility

(if o ne pa rty is a sig na to ry to the Wa shing to n Co nve ntio n, b ut the o the r pa rty is no t)

3.

Ad hoc UNCIT RAL

4.

Arbitra tion a dministe re d by the Stoc kholm Cha mbe r

• f

Comme rc e

* T

he vast majo rity o f the c ase s have b e e n sub mitte d to I CSI D arb itratio n.

T HANK YOU