December 31, 2009

The Energy Charter Treaty




Partner Emmanuel Gaillard (Paris-International Arbitration) has co-authored an article, "The Energy Charter Treaty," in Arbitration Under International Investment Agreements : A Guide to the Key Issues 37 (K. Yannaca-Small, ed., 2010).

The Energy Charter Treaty (ECT) is a unique international instrument for the promotion of cross-border energy cooperation. It was opened for signature on December 17, 1994 and entered into force on April 16, 1998. Having languished in relative obscurity for several years, the Treaty is today regarded as a vitally important multilateral instrument for the promotion and protection of foreign investment in the energy sector. […] While the Treaty covers a broad range of energy-related activities, including nondiscriminatory trade in energy materials, cross-border energy transit, competition, the environment, access to capital markets, and transfer of technology, its cornerstone is its protection of foreign investment.

This chapter contains some brief remarks on the Treaty’s genesis. Each subsequent section focuses on a different aspect of the Treaty’s investment-related features […]. Where useful, this chapter compares the Treaty’s text with analogous provisions in other investment agreements. This chapter also addresses relevant arbitral decisions under the ECT and other agreements, including the award on jurisdiction and admissibility in the three arbitrations brought by the majority shareholders in Yukos Oil Corporation against the Russian Federation.

View the full article, The Energy Charter Treaty