The Energy Charter Treaty and settlement of disputes - current challenges

Author:Iuliana Gabriela Iacob - Ramona Elisabeta Cirlig
Position:Lawyer, Bucharest Bar, Romania - Lawyer, Bucharest Bar, Romania
The Energy Charter Treaty and settlement of disputes current
Iuliana-Gabriela IACOB
Ramona-Elisabeta CIRLIG
The Energy Charter Treaty (the “ECT”) is a multilateral agreement aiming to
promote energy cooperation and security. This paper focuses on the provisions of the ECT
governing the protection of foreig n investments and the settlement of disputes b etween
investors a nd host states. In particular, this paper analyses the recent developments and
challenges in the field of dispute settlement und er the ECT, such as the increase in
arbitrations, the withdrawal of Italy from the ECT, as well as the interplay between EU law
and the ECT.
Keywords: the Energy Charter Treaty, foreign investment protection, dispute
settlement, investment arbitration, European Union law
JEL Classification: K33, K41
` 1. Introduction
In recent years, energy has become a central topic of debate for the
international community
. Energy efficiency
, increased collaboration in the field
of energy
and strong energy markets have been described as essential factors to
achieve sustainable development and economic growth. A priority for numerous
countries, development of the energy infrastructure entails complex long-term
projects reliant on foreign investments
. In search for development opportunities,
Iuliana-Gabriela Iacob Lawyer, Bucharest Bar, Romania, .
Ramona-Elisabeta Cirlig - Lawyer, Bucharest Bar, Romania, .
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