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Commentary on the Energy Charter Treaty 2nd ed

Edited by: Rafael Leal-Arcas

ISBN13: 9781035316274

Previous Edition ISBN: 9781788117487

Published: December 2023

Publisher: Edward Elgar Publishing Limited

Country of Publication: UK

Format: Hardback

Price: £205.00

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This thoroughly revised edition of the Commentary on the Energy Charter Treaty presents a comprehensive overview of the latest trends surrounding this important international agreement. Providing a unique, article-by-article, textual analysis, updated chapters cover the full breadth of topics and developments of the Energy Charter Treaty (ECT), situated in the broader context of international economic law and governance. This edition also offers detailed coverage of the modernization process of the ECT, and carefully analyses important criticisms of the instrument.

The ECT outlines a multilateral framework for cross-border cooperation in the energy sector based on the principles of open competitive markets and sustainable development. Expert contributors provide commentary and analysis on the five primary areas of the ECT: investment promotion and protection, trade, transit, environmental protection, and dispute settlement. The optional protocols are also addressed, including issues such as energy efficiency and the environment.

Key Features:

Comprehensive, article-by-article analysis of the ECT
Contributions by 25 leading academics and practitioners in the field
Updated coverage of the recent modernization process of the ECT, and
Thorough examination of key trends and important criticisms of the ECT

Refreshed and revised, this new edition will be an indispensable reference point for academics, students, lawyers, economists, and policymakers working in energy law and policy.

Subjects:: Energy and Natural Resources Law

Contents:: INTRODUCTION 1; Rafael Leal-Arcas, Alanoud Alkhorayef, Moudhi Al Shehail and Loloah Al Sheikh; AN ENERGY CHARTER TREATY FOR THE 21ST CENTURY 4; 1. Criticisms of the Energy Charter Treaty 4; Restriction on the governments’ ability to regulate or restrict the use of fossil fuels 5; Environmental concerns 5; Sovereignty concerns 6; Transparency 6; The ECT is outdated 7; 2. The modernization process 7; Investment protection 8; Trade 9; Transit 10; Energy efficiency 11; 3. Investor-state dispute settlement (ISDS) mechanism 11; CONCLUSION 14; STRUCTURE OF THE BOOK 16; PREAMBLE 17; Antonio Morelli; COMMENTARY 18; PART I. DEFINITION AND PURPOSE; ARTICLE 1 DEFINITIONS 24; Dylan Geraets and Leonie Reins; COMMENTARY 26; Introduction 26; A. Part I: Definitions and purpose 27; ARTICLE 2 PURPOSE OF THE TREATY 59; Leonie Reins; COMMENTARY 59; A. ‘In accordance with the objectives and principles of the Charter’ 60; B. ‘Complementarities and mutual benefits’ 64; C. ‘Long-term cooperation in the energy field’ 64; D. ‘A legal framework’ 66; E. Modernisation of the ECT; PART II. COMMERCE; ARTICLE 3 INTERNATIONAL MARKETS 70; Lisa M. Richman; COMMENTARY 70; A. Introduction 70; B. ‘An open and competitive market’ 71; C. ‘Energy Materials and Products and Energy-Related Equipment’ 72; ARTICLE 4 NON-DEROGATION FROM WTO AGREEMENT 75; Lisa M. Richman; COMMENTARY 75; A. Introduction 75; B. The non-derogating provision 77; ARTICLE 5 TRADE-RELATED INVESTMENT MEASURES 82; Lisa M. Richman; COMMENTARY 84; A. Introduction 84; B. Trade-related investment measures: basic elements and the WTO approach 85; C. Article 5 on TRIMs, a provision-by-provision analysis 87; D. The Australian Declaration: exceptions and jurisdictional issues 94; ARTICLE 6 COMPETITION 98; Aubin Nzaou-Kongo; COMMENTARY 99; A. Introduction 99; B. The obligation of alleviation – Article 6(1) 101; C. Enforcement of competition provisions by the Contracting Parties – Article 6(2) 103; D. Obligation of cooperation between Contracting Parties and between national; competition authorities – Article 6(3), (4) and (6) 104; E. Infringement, cooperation and dispute resolution – Article 6(5) and (7) 104; F. Conclusion 105; ARTICLE 7 TRANSIT 106; Cătălin Gabriel Stănescu; COMMENTARY 108; ARTICLE 8 TRANSFER OF TECHNOLOGY 123; Aubin Nzaou-Kongo; COMMENTARY 123; A. Introduction 123; B. Transfer of technology 125; C. Context of Article 8 126; D. Non-discriminatory access to and transfer of energy technologies 130; E. Removing barriers to technology transfer 136; F. Conclusions 139; ARTICLE 9 ACCESS TO CAPITAL 140; Aubin Nzaou-Kongo; COMMENTARY 141; A. Introduction 141; B. Context of ECT Article 9 142; C. Promoting access to capital markets 149; D. Access to funds for trade or foreign investments 153; E. Implementation of economic programs in the energy industry Activity in the; Energy Sector 153; F. Surviving prudential regulations: ‘Nothing in this Article shall prevent […]’ clause 154; G. Conclusions 155; PART III. INVESTMENT PROMOTION AND PROTECTION; ARTICLE 10 PROMOTION, PROTECTION AND TREATMENT OF INVESTMENTS 157; Diego Mej.a-Lemos; COMMENTARY 159; A. Part III 162; B. Article 10 181; ARTICLE 11 KEY PERSONNEL 220; Diego Mej.a-Lemos; COMMENTARY 220; ARTICLE 12 COMPENSATION FOR LOSSES 224; Diego Mej.a-Lemos; COMMENTARY 224; ARTICLE 13 EXPROPRIATION 226; Diego Mej.a-Lemos; COMMENTARY 227; ARTICLE 14 TRANSFERS RELATED TO INVESTMENTS 248; Francesco Montanaro and Tanya Shaar; COMMENTARY 249; A. Introduction 249; B. The monetary transfer clause in the Energy Charter Treaty in light of the investment; treaty practice 251; ARTICLE 15 SUBROGATION 256; Apurva Mudliar and Tanya Shaar; COMMENTARY 256; ARTICLE 16 RELATION TO OTHER AGREEMENTS 259; Vishakha Joshi and Francesco Montanaro; COMMENTARY 259; A. Introduction 259; B. Clauses governing conflicts with other treaties in the IIAs and in the ECT 261; C. Dispute governing the compatibility of ECT and other IITs with EU law 262; ARTICLE 17 NON-APPLICATION OF PART III IN CERTAIN CIRCUMSTANCES 264; Apurva Mudliar and Vishakha Joshi; COMMENTARY 264; A. Introduction 264; B. Title: Non-application of Part III in certain circumstances 265; C. Application of Article 17(1) of the ECT 266; D. Denial of benefits to an investment under Article 17(2) 272; E. Conclusion 272; PART IV. MISCELLANEOUS PROVISIONS; ARTICLE 18 SOVEREIGNTY OVER ENERGY RESOURCES 274; Contributions by Peter Vajda and Varvara Aleksić, and Tina Hunter; COMMENTARY 274; COMMENTARY 276; ARTICLE 19 ENVIRONMENTAL ASPECTS 283; Contributions by Peter Vajda and Varvara Aleksić, and Tina Hunter; COMMENTARY 284; COMMENTARY 292; ARTICLE 20 TRANSPARENCY 294; Gloria Alvarez; COMMENTARY 294; A. Structure and scope 294; B. Notion of transparency in the ECT 295; C. Transparency in ECT Secretariat Model Agreements 298; ARTICLE 21 TAXATION 299; Gloria Alvarez; COMMENTARY 301; A. Introduction, structure and scope 301; B. Bona fide taxation measures according to the ECT 301; C. Structure and the general rule on Article 21 302; D. Exceptions to the General Rule on Article 21 303; E. Article 21 in practice and jurisdictional issues 306; ARTICLE 22 STATE AND PRIVILEGED ENTERPRISES 309; Contributions by Costantino Grasso and Tina Hunter; COMMENTARY 309; COMMENTARY 320; ARTICLE 23 OBSERVANCE BY SUB-NATIONAL AUTHORITIES 322; Contributions by Costantino Grasso and Sara Almeshari; COMMENTARY 322; COMMENTARY 327; ARTICLE 24 EXCEPTIONS 333; Contributions by Costantino Grasso and Gloria Alvarez; COMMENTARY 334; COMMENTARY 340; ARTICLE 25 ECONOMIC INTEGRATION AGREEMENTS 342; Contributions by Costantino Grasso and Gloria Alvarez; COMMENTARY 342; COMMENTARY 346; PART V. DISPUTE SETTLEMENT; ARTICLE 26 SETTLEMENT OF DISPUTES BETWEEN AN INVESTOR AND A CONTRACTING PARTY 349; Fernando Dias Sim.es; COMMENTARY 351; A. Article 26(1) 351; B. Article 26(2) 355; C. Article 26(3) 356; D. Article 26(4) 360; E. Article 26(5) 362; F. Article 26(6) 363; G. Article 26(7) 365; H. Article 26(8) 366; ARTICLE 27 SETTLEMENT OF DISPUTES BETWEEN CONTRACTING PARTIES 368; Crina Baltag; COMMENTARY 369; ARTICLE 28 EXCLUSION OF CERTAIN PROVISIONS OF THE ECT FROM THE SETTLEMENT OF DISPUTES BETWEEN CONTRACTING PARTIES 378; Crina Baltag; COMMENTARY 378; PART VI. TRANSITIONAL PROVISIONS; ARTICLE 29 INTERIM PROVISIONS ON TRADE-RELATED MATTERS 381; Max Baumgart; COMMENTARY 383; A. Introduction 383; B. Temporal scope of application (para 1) 384; C. Incorporation of the WTO Agreement’s rights and obligations (para 2) 384; D. Full transparency obligation (para 3) 385; E. Best-endeavour commitment (paras 4 and 5) 386; F. Stand still clause (paras 6, 7 and 8) 386; G. Dispute settlement (para 9) 387; ARTICLE 30 DEVELOPMENTS IN INTERNATIONAL TRADING ARRANGEMENTS 388; Silke Goldberg, Naomi Lisney and Anne Eckenroth; COMMENTARY 388; ARTICLE 31 ENERGY-RELATED EQUIPMENT 391; Silke Goldberg, Naomi Lisney and Anne Eckenroth; COMMENTARY 391; ARTICLE 32 TRANSITIONAL ARRANGEMENTS 393; Silke Goldberg, Naomi Lisney and Anne Eckenroth; COMMENTARY 394; A. Review of the transitional arrangements 395; B. The AES Corporation and Tau Power B.V. v. Republic of Kazakhstan (ICSID Case; No. ARB/10/16) 396; COMMENTARY ON THE ENERGY CHARTER TREATY; PART VII. STRUCTURE AND INSTITUTIONS; ARTICLE 33 ENERGY CHARTER PROTOCOLS AND DECLARATIONS 400; Silke Goldberg, Naomi Lisney and Anne Eckenroth; COMMENTARY 401; A. The PEEREA 401; B. The Transit Protocol 404; ARTICLE 34 ENERGY CHARTER CONFERENCE 410; Cătălin Gabriel Stănescu; COMMENTARY 412; A. Members and observers 412; B. Meetings of the Charter Conference 413; C. The powers and functions of the Charter Conference 413; D. Subsidiary bodies 424; E. Conclusions 426; ARTICLE 35 SECRETARIAT 427; Cătălin Gabriel Stănescu; COMMENTARY 428; A. The staff of the Secretariat 428; B. The role and functions of the Secretariat 429; C. The appointment of the Secretary General 435; D. The Secretary General’s role in ECT’s Dispute Resolution Mechanisms 436; E. Conclusions 439; ARTICLE 36 VOTING 440; Cătălin Gabriel Stănescu; COMMENTARY 441; A. Who can vote 441; B. Exercising the right to vote – voting by correspondence 442; C. Voting rules 443; D. Conclusions 445; ARTICLE 37 FUNDING PRINCIPLES 446; Cătălin Gabriel Stănescu; COMMENTARY 446; A. Types of costs 446; B. Determination of financial contributions 447; C. Voluntary contributions 448; D. Conclusions 449; PART VIII. FINAL PROVISIONS; ARTICLE 38 SIGNATURE 451; Odysseas G. Repousis; COMMENTARY 451; A. Introduction 451; B. Scope 451; C. Eligibility and temporal issues 452; D. State practice 452; E. Succession cases 453; ARTICLE 39 RATIFICATION, ACCEPTANCE OR APPROVAL 454; Contributions by Odysseas G. Repousis and Dyuti Pandya; COMMENTARY 454; A. Introduction 454; B. State practice 455; COMMENTARY 455; A. Modernisation of the Energy Charter Treaty: Article 39 455; ARTICLE 40 APPLICATION TO TERRITORIES 456; Contributions by Odysseas G. Repousis and Dyuti Pandya; COMMENTARY 457; A. Introduction 457; B. Territories for the international relations of which a contracting party is responsible 457; C. Territorial declarations and the ECT ‘Area’ 458; D. Temporal issues 458; E. State practice 459; F. Territorial declarations and provisional application 460; COMMENTARY 469; A. Modernisation of the Energy Charter Treaty: Article 40 469; ARTICLE 41 ACCESSION 471; Contributions by Odysseas G. Repousis and Dyuti Pandya; COMMENTARY 471; A. Introduction 471; B. Scope 472; C. State practice 472; COMMENTARY 472; A. Modernisation of the Energy Charter Treaty: Article 41 472; ARTICLE 42 AMENDMENTS 473; Antonio Morelli; COMMENTARY 473; ARTICLE 43 ASSOCIATION AGREEMENTS 477; Antonio Morelli; COMMENTARY 477; ARTICLE 44 ENTRY INTO FORCE 479; Antonio Morelli; COMMENTARY 479; ARTICLE 45 PROVISIONAL APPLICATION 482; Antonio Morelli; COMMENTARY 484; ARTICLE 46 RESERVATIONS 487; Antonio Morelli; COMMENTARY 487; ARTICLE 47 WITHDRAWAL 489; Antonio Morelli; COMMENTARY 489; ARTICLE 48 STATUS OF ANNEXES AND DECISIONS 494; Leonardo Borlini and Marina Petri; COMMENTARY 494; A. Purpose and function 494; B. Relevance of the article 495; ARTICLE 49 DEPOSITARY 500; Leonardo Borlini and Marina Petri; COMMENTARY 500; A. Purpose and function 500; B. Content of the article 501; ARTICLE 50 AUTHENTIC TEXTS 504; Leonardo Borlini and Marina Petri; COMMENTARY 504; A. Purpose and function 504; B. Content and interpretative implications of the article 505; APPENDIX: GAS INFRASTRUCTURE IN EURASIA AND THE ROLE OF THE ENERGY CHARTER 507; Andrey A. Konoplyanik; 1. Three Major Components of Transit Risk in the Cross-Border Gas Value Chain; (Konoplyanik’s ‘Pyramid of Transit Risks’) 509; 2. Soviet/Russian Gas Supplies to Europe: Transit Risks Upstream of Delivery Points 510; 3. Soviet/Russian Gas Supplies to Europe: Transit Risks Downstream of Delivery Points 512; 4. GATT/WTO vs. Energy Charter (ECT and Draft Transit Protocol) Framework 514; 5. Different Purpose of Russia and the EU on Prospective Implementation of Energy; Charter Transit Provisions (Why the Balanced Solution on Transit Was Not Reached) 516; 6. Energy Charter: A Gradual Shift from an Instrument of Trans-Atlantic Europe Towards a Eurasian Instrument Beyond the EU? 519; 7. The Fight Against ‘Energy Poverty’ as the Main Consolidating Vehicle in Eurasia – A Trigger of ECT Re-Emergence in This Region? 522; Index 523