However, locals feel latent tension that the imminent consultation process or the arbitration suit could revive earlier threats, violence, and legal persecution from company employees and contractors.
European governments are still considering withdrawal from the Energy Charter Treaty, despite the EU Commission’s efforts to modernise the controversial pact, documents leaked to Investigate Europe reveal.
Germany has agreed to buy a stake in Uniper. The deal is subject to Uniper withdrawing a lawsuit against the Netherlands in connection with the Energy Charter Treaty.
The model BIT aims to balance two objectives: the attraction of foreign direct investment to African states and the promotion of sustainable development.
Unsatisfyingly, ISDS permits international investment law to exist in a vacuum that enables those tasked with adjudicating disputes to turn a blind eye to international humanitarian law norms.
Despite warnings that new oil and gas fields must be banned for the world to decarbonise by 2050, treaty signatories will protect fossil fuel production for at least another decade.
Nigeria is targeting to be part of the International Energy Charter (IEC), a global community that will enable it to attract Foreign Direct Investments (FDI) to accelerate power sector development.
Croatia has lost an international arbitration case launched by Hungarian oil and gas group MOL over Zagreb’s failure to fulfil obligations under an agreement about the gas business of the jointly owned Croatian oil company INA.
A tribunal awarded a sum of EUR 243 million plus interest to Bank Melli Iran and Bank Saderat Iran in their investor–state dispute against the Kingdom of Bahrain.