The measures would face legal challenges under Mexico’s commitments not just under the outgoing NAFTA but also its successor, the United States-Mexico-Canada Agreement, an industry source said.
The Energy Charter Treaty takes an axe to climate action.
A global tragedy at a high cost for taxpayers.
An updated European Commission proposal to reform the Energy Charter Treaty is falling short of what’s needed to reinstate governments’ “right to regulate” in areas like climate change, activists say.
The Paris Court of Appeal has recently sought a preliminary ruling from the Court of Justice of the European Union on the interpretation of the Energy Charter Treaty in the ongoing Republic of Moldova v. Komstroy case.
In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank’s ICSID in 2018.
E Energija received an award of EUR 3.1 million, following ICSID’s April 8 rejection of Latvia’s appeal for annulment of the tribunal’s 2018 award.
Joining the Energy Charter Treaty could cost developing countries money that is urgently needed to fight the COVID-19 pandemic and economic crisis.
The tribunal dismissed all claims against Turkmenistan brought by a Turkish investor, Lotus Holding Anonim Sirketi, under the Energy Charter Treaty and the Turkey-Turkmenistan bilateral investment treaty.
Many countries, particularly in the global south, are in the process of joining the Energy Charter Treaty despite the sweeping powers it grants to foreign investors.
Ascent Resources Plc, the onshore European and Caribbean / Hispanic American oil and gas company, has received a Letter of Intent for up to €3 million of potential litigation funding in Slovenia.
The European Union is Malaysia’s third-largest trading partner and is its largest source of foreign direct investment, and Malaysia is a major exporter of raw materials to the European Union. But politics over palm oil threaten their relationship.
The claimants initiated ICSID arbitration against Spain, claiming breaches of the Energy Charter Treaty, including the fair and equitable treatment, umbrella and non-impairment clauses.
While policies aiming to phase out coal are necessary to tackle climate change, they may give rise to legal claims from companies whose investments are adversely affected by the low-carbon energy transition.
Civil society activists and scientific experts denounce the unsustainable practice of investment disputes under the Energy Charter Treaty.
Naturgy has agreed with Eni and Egypt to end their dispute over Unión Fenosa (UFG), in which the Spanish and Italian firms own 50% each.
With new regulatory changes now taking place on the basis of the EU’s Renewable Energy Directive (RED) II of 2018, Indonesia and Malaysia are trying to come to terms with the implications for their global palm oil market strategy and domestic production.
For the Kingdom, Carlyle did not justify the existence of investments in Morocco. The American group invokes the Morocco-United States free trade agreement while the contracts with Samir concern entities based in the Cayman Islands.
Ukraine’s joint stock oil and gas company Naftogaz said the group seeks nearly $8 billion of compensation for its assets expropriated by Russia in Crimea.
When it issued three interim awards for Yukos, the arbitral tribunal noted that the principle of provisional application of treaties was recognized under Russian law.