As of 3 August 2021, the Secretariat is aware of 142 investment arbitration cases instituted under the Energy Charter Treaty (sometimes invoked together with a bilateral investment treaty). A full list with information is available here
Since parties to investment arbitration under Article 26 ECT are not obliged to notify the Secretariat of the existence or substance of their dispute, some awards (and even the existence of some proceedings) remain confidential. The Secretariat compiles information (which cannot be considered as exhaustive) from delegates and public sources (including specialized reporting services such as Global Arbitration Review (GAR), Investment Arbitration Reporter (IAReporter) and ItaLaw). The Secretariat assumes no responsibility for eventual errors or omissions in these data and welcomes any additional information or clarification on specific cases (at legalaffairs@encharter.org or using the online contact form). Some case reports prepared by TDM/IACL can be found here.
There are 142 result(s)
- > Claimant : AES Summit Generation Ltd.
- > Nationality : UK
- > Respondent : Hungary
- > Procedural rules applied : ICSID
- > Chair : Allan Philip
- > Arbitrator appointed by Claimant : Prosper Weil
- > Arbitrator appointed by Respondent : Francisco Orrego Vicuña
- > Invoked instruments : ECT and BIT
- > Case status : Settlement agreed
- > Year of the award or agreement : 2002
- > Year of registration : 2002
- > Subject matter of the dispute: Claims arising out of Hungary's alleged failure to comply with a power purchase and sale agreement of certain State-owned power facilities
- > BIT Invoked: Hungary-UK BIT
- > Amount claimed: N/A
- > Amount awarded: N/A
- > Costs of arbitration: N/A
- > Award legal costs: N/A
- > Award costs of arbitration: N/A
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- > Claimant : Nykomb Synergetics Technology Holding AB
- > Nationality : Sweden
- > Respondent : Latvia
- > Procedural rules applied : SCC
- > Chair : Bjorn Haug
- > Arbitrator appointed by Claimant : Rolf Schütze
- > Arbitrator appointed by Respondent : Johan Gernandt
- > Invoked instruments : ECT
- > Articles mentioned : Article 26 (1)
- , Article 26 (4)
- , Article 10
- , Article 13
- , Article 22
- , Article 26
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : (10.1) Unreasonable or discriminatory measures
- > Case status : Award rendered
- > Year of the award or agreement : 2003
- > Year of registration : 2001
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- Flowchart
- > Subject matter of the dispute: Claims arising out of a dispute over the purchase price to be paid under a contract entered into between claimant's subsidiary and a State enterprise for the building of a cogeneration plant
- > Amount claimed: LVL 7,097,680 + specific performance
- > Amount awarded: LVL 1,600,000 + specific performance
- > Valuation method: discretionary amount
- > Interest rate: "prevailing interest rate" in Latvia
- > Costs of arbitration: EUR 253,523
- > Award legal costs: Claimant was awarded SEK 2,000,000
- > Award costs of arbitration: Parties share costs equally
ARBITRAL DECISION
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16 December 2003
30 May 2003 - First Legal Opinion of Adnan Amkhan June 2003 - Legal Opinion of Thomas Wälde 4 September 2003 - Second Legal Opinion of Adnan Amkhan 1 August 2003 - Legal Opinion of Ove Bring and Richard Happ |
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- > Claimant : Plama Consortium Ltd.
- > Nationality : Cyprus
- > Respondent : Bulgaria
- > Procedural rules applied : ICSID
- > Chair : Carl Salans
- > Arbitrator appointed by Claimant : Albert Jan van den Berg
- > Arbitrator appointed by Respondent : V. V. Veeder
- > Invoked instruments : ECT and BIT
- > Articles mentioned : Article 17 (1)
- , Article 1 (2)
- , Article 1 (6)
- , Article 1 (7)
- , Article 2
- , Article 12
- , Article 26
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : No breach
- > Case status : Award rendered
- > Year of the award or agreement : 2008
- > Follow-on proceedings : ICSID revision proceedings discontinued
- > Year of registration : 2003
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- Flowchart
- > Subject matter of the dispute: Claims arising out of the public authorities' and agencies' alleged damage to the operation of the investor's oil refinery, as well as their refusal or delay in adopting adequate corrective measures
- > BIT invoked: Bulgria-Cyprus BIT
- > Amount claimed: USD 146,120,152
- > Amount awarded: ZERO
- > Costs of arbitration: EUR 253,523
- > Award legal costs: USD Respondent was awarded 7,460,000
- > Award costs of arbitration: Costs follow the award
ARBITRAL DECISIONS
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8 February 2005 |
6 September 2005 |
27 August 2008 |
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- > Claimant : Petrobart Limited
- > Nationality : UK (Gibraltar)
- > Respondent : Kyrgyz Republic
- > Procedural rules applied : SCC
- > Chair : Hans Danelius
- > Arbitrator appointed by Claimant : Ove Bring
- > Arbitrator appointed by Respondent : Jeroen Smets
- > Invoked instruments : ECT
- > Articles mentioned : Article 45 (3)
- , Article 45 (1)
- , Article 17 (1)
- , Article 10 (1)
- , Article 1 (5)
- , Article 1 (6)
- , Article 1 (7)
- , Article 2
- , Article 13
- , Article 22
- , Article 26
- , Article 44
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : (10.1) Fair and equitable treatment
- > Case status : Award rendered
- > Year of the award or agreement : 2005
- > Follow-on proceedings : Award upheld by national court
- > Year of registration : 2003
-
- Flowchart
- > Subject matter of the dispute: Claims arising out of the non-payment of certain deliveries under the gas supply contract, followed by the stay of execution of a debt judgment in favour of the claimant, and a presidential decree pursuant to which the investor's contractual counterparty was restructured and subsequently declared bankrupt
- > Amount claimed: USD 4,084,652.20
- > Amount awarded: USD 1,130,859
- > Valuation method: discretionary amount
- > Interest rate: UNIDROIT Principles of International Commercial Contracts
- > Costs of arbitration: EUR 147,774 + SEK 16,458
- > Award legal costs: Each party bears its own legal costs
- > Award costs of arbitration: Parties share costs equally
- > Related award: On 13 February 2003 an arbitral tribunal constituted under the UNCITRAL Rules rendered its award on the basis of the Kyrgyz Foreign Investment Law. The award was partially annulled by the Swedish Supreme Court in 2008. This award is not related to the ECT.
ARBITRAL DECISION
|
25 March 2005 Arbitral Award 30 October 2004 - Legal Opinion of Adnan Amkhan |
|
ANNULMENT PROCEEDINGS
|
19 January 2017 |
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- > Claimant : Alstom Power Italia SpA, Alstom SpA
- > Nationality : Italy, Italy
- > Respondent : Mongolia
- > Procedural rules applied : ICSID
- > Chair : Marc Lalonde
- > Arbitrator appointed by Claimant : Jan Paulsson
- > Arbitrator appointed by Respondent : Anthony Mason
- > Invoked instruments : ECT and BIT
- > Case status : Settlement agreed
- > Year of the award or agreement : 2006
- > Year of registration : 2004
- > Subject matter of the dispute: Claims arising out of disagreements between the investor and local authorities over works to be performed under a contract for the refurbishment of a thermal electric station
- > BIT invoked: Italy-Mongolia BIT
- > Amount claimed: N/A
- > Amount awarded: N/A
- > Costs of arbitration: N/A
- > Award legal costs: N/A
- > Award costs of arbitration: N/A
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- > Claimant : Yukos Universal Limited
- > Nationality : UK (Isle of Man)
- > Respondent : Russian Federation
- > Procedural rules applied : UNCITRAL (PCA)
- > Chair : Yves Fortier
- > Arbitrator appointed by Claimant : Charles Poncet
- > Arbitrator appointed by Respondent : Stephen Schwebel
- > Invoked instruments : ECT
- > Articles mentioned : Article 26 (1)
- , Article 26 (6)
- , Article 26 (8)
- , Article 21 (7)
- , Article 21 (5)
- , Article 17 (1)
- , Article 10 (7)
- , Article 10 (3)
- , Article 10 (1)
- , Article 7 (10)
- , Article 1 (2)
- , Article 1 (6)
- , Article 1 (7)
- , Article 13
- , Article 32
- , Article 39
- , Article 45
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : (13.1) Indirect expropriation
- > Case status : Award rendered
- > Year of the award or agreement : 2014
- > Follow-on proceedings : Pending national court decision on annulment
- > Year of registration : 2005
- > Subject matter of the dispute: Claims arising out of the Government’s alleged illegal expropriation of claimant’s investments in Yukos Oil Company
- > Amount claimed: USD 114,174 billion (Yukos Universal Limited v. Russian Federation, Hulley Enterprises Limited v. Russian Federation, and Veteran Petroleum Limited v. Russian Federation combined)
- > Amount awarded: USD 1,846,000,687
- > Valuation method: hybrid approach (market-based approach (comparable companies - RTS Oil & Gas Index) + discounted cash flow)
- > Interest rate: US Treasury bonds (10-year)
- > Costs of arbitration: EUR 156,476
- > Award legal costs: Claimant was awarded USD 2,214,277
- > Award costs of arbitration: Costs follow the award
ARBITRAL DECISIONS
|
30 November 2009 |
18 July 2014 |
ANNULMENT PROCEEDINGS
|
20 April 2016 |
25 September 2018 Ruling of the Hague Court of Appeal - Dutch | English (unofficial translation) |
|
18 February 2020 Judgment of the Hague Court of Appeal - Dutch | English (unofficial translation) | |
ENFORCEMENT PROCEEDINGS (Belgium - France - United Kingdom - United States)
Belgium: 24 June 2016 - Decision of Antwerp Court of First Instance 9 December 2016 - Judgment of the Brussels Francophone Court of First Instance 27 April 2017 - Decision of Belgian Consitutionnal Court 20 February 2018 - Decision Brussels Court Appeal on Enforcement I 20 February 2018 - Decision Brussels Court Appeal on Enforcement II
10 February 2017 - Decision of the Tribunal of Grande Instance d'Ivry
30 September 2016 - Memorandum Opinion of the United States District Court for the District of Columbia 18 August 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia 9 December 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia |
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- > Claimant : Hulley Enterprises Limited
- > Nationality : Cyprus
- > Respondent : Russian Federation
- > Procedural rules applied : UNCITRAL (PCA)
- > Chair : Yves Fortier
- > Arbitrator appointed by Claimant : Charles Poncet
- > Arbitrator appointed by Respondent : Stephen Schwebel
- > Invoked instruments : ECT
- > Articles mentioned : Article 26 (1)
- , Article 26 (6)
- , Article 26 (8)
- , Article 21 (7)
- , Article 21 (5)
- , Article 17 (1)
- , Article 10 (7)
- , Article 10 (3)
- , Article 10 (1)
- , Article 7 (10)
- , Article 1 (1)
- , Article 1 (2)
- , Article 1 (7)
- , Article 13
- , Article 32
- , Article 39
- , Article 45
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : (13.1) Indirect expropriation
- > Case status : Award rendered
- > Year of the award or agreement : 2014
- > Follow-on proceedings : Pending national court decision on annulment
- > Year of registration : 2005
- > Subject matter of the dispute: Claims arising out of the Government’s alleged illegal expropriation of claimant’s investments in Yukos Oil Company
- > Amount claimed: USD 114,174 billion (Yukos Universal Limited v. Russian Federation, Hulley Enterprises Limited v. Russian Federation, and Veteran Petroleum Limited v. Russian Federation combined)
- > Amount awarded: USD 39,971,834,360
- > Valuation method: hybrid approach (market-based approach (comparable companies - RTS Oil & Gas Index) + discounted cash flow)
- > Interest rate: US Treasiry bond (10-year)
- > Costs of arbitration: EUR 3,388,197
- > Award legal costs: Claimant was awarded USD 47,946,190
- > Award costs of arbitration: Costs follow the award
ARBITRAL DECISIONS
|
30 November 2009 |
18 July 2014 |
ANNULMENT PROCEEDINGS
|
20 April 2016 |
25 September 2018 Ruling of the Hague Court of Appeal - Dutch | English (unofficial translation) |
|
18 February 2020 Judgment of the Hague Court of Appeal - Dutch | English (unofficial translation) | |
ENFORCEMENT PROCEEDINGS (Belgium - France - United Kingdom - United States)
Belgium: 24 June 2016 - Decision of Antwerp Court of First Instance 9 December 2016 - Judgment of the Brussels Francophone Court of First Instance 27 April 2017 - Decision of Belgian Consitutionnal Court 20 February 2018 - Decision Brussels Court Appeal on Enforcement I 20 February 2018 - Decision Brussels Court Appeal on Enforcement II
10 February 2017 - Decision of the Tribunal of Grande Instance d'Ivry
30 September 2016 - Memorandum Opinion of the United States District Court for the District of Columbia 18 August 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia 9 December 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia |
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- > Claimant : Veteran Petroleum Limited
- > Nationality : Cyprus
- > Respondent : Russian Federation
- > Procedural rules applied : UNCITRAL (PCA)
- > Chair : Yves Fortier
- > Arbitrator appointed by Claimant : Charles Poncet
- > Arbitrator appointed by Respondent : Stephen Schwebel
- > Invoked instruments : ECT
- > Articles mentioned : Article 26 (1)
- , Article 26 (6)
- , Article 26 (8)
- , Article 21 (7)
- , Article 21 (5)
- , Article 17 (1)
- , Article 10 (7)
- , Article 10 (3)
- , Article 10 (1)
- , Article 1 (2)
- , Article 1 (6)
- , Article 1 (7)
- , Article 13
- , Article 32
- , Article 39
- , Article 45
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : (13.1) Indirect expropriation
- > Case status : Award rendered
- > Year of the award or agreement : 2014
- > Follow-on proceedings : Pending national court decision on annulment
- > Year of registration : 2005
- > Subject matter of the dispute: Claims arising out of the Government’s alleged illegal expropriation of claimant’s investments in Yukos Oil Company
- > Amount claimed: USD 114,174 billion (Yukos Universal Limited v. Russian Federation, Hulley Enterprises Limited v. Russian Federation, and Veteran Petroleum Limited v. Russian Federation combined)
- > Amount awarded: USD 8,203,032,751
- > Valuation method: hybrid approach (market-based approach (comparable companies - RTS Oil & Gas Index) + discounted cash flow)
- > Interest rate: US Treasury securities
- > Costs of arbitration: EUR 695,327
- > Award legal costs: Claimant was awarded USD 9,839,533
- > Award costs of arbitration: Costs follow the award
ARBITRAL DECISIONS
|
30 November 2009 |
18 July 2014 |
ANNULMENT PROCEEDINGS
|
20 April 2016 |
25 September 2018 Ruling of the Hague Court of Appeal - Dutch | English (unofficial translation) |
|
18 February 2020 Judgment of the Hague Court of Appeal - Dutch | English (unofficial translation) | |
ENFORCEMENT PROCEEDINGS (Belgium - France - United Kingdom - United States)
Belgium: 24 June 2016 - Decision of Antwerp Court of First Instance 9 December 2016 - Judgment of the Brussels Francophone Court of First Instance 27 April 2017 - Decision of Belgian Consitutionnal Court 20 February 2018 - Decision Brussels Court Appeal on Enforcement I 20 February 2018 - Decision Brussels Court Appeal on Enforcement II
10 February 2017 - Decision of the Tribunal of Grande Instance d'Ivry
30 September 2016 - Memorandum Opinion of the United States District Court for the District of Columbia 18 August 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia 9 December 2017 - Memorandum Opinion and Order of the United States District Court for the District of Columbia |
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- > Claimant : Ioannis Kardassopoulos
- > Nationality : Greece
- > Respondent : Georgia
- > Cases : Interest rate
- > Procedural rules applied : ICSID
- > Chair : Yves Fortier
- > Arbitrator appointed by Claimant : Francisco Orrego Vicuña
- > Arbitrator appointed by Respondent : Vaughan Lowe (Arthur Watts replaced)
- > Invoked instruments : ECT and BIT
- > Articles mentioned : Article 45 (2)
- , Article 45 (1)
- , Article 26 (8)
- , Article 1 (2)
- , Article 1 (6)
- , Article 1 (7)
- , Article 13
- , Article 26
- , Article 44
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : (13.1) Direct expropriation
- > Breaches found : (10.1) Fair and equitable treatment
- > Case status : Award rendered
- > Year of the award or agreement : 2010
- > Follow-on proceedings : ICSID annulment & revision proceedings discontinued
- > Year of registration : 2010
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- Flowchart
- > Subject matter of the dispute: Government's decree cancelling the concession rights of an investment vehicle, in which the investor held interests, devoted to the development of an oil pipeline to transport oil and gas from Azerbaijan to the Black Sea
- > BIT invoked: Georgia-Greece BIT
- > Amount claimed: USD 15,850,137.901
- > Amount awarded: USD 15.1 million
- > Valuation method: hybrid approach (market-based approach (comparable arm's length transactions) + discounted cash flow)
- > Interest rate: LIBOR + 4%
- > Costs of arbitration: Not specified
- > Award legal costs: Claimant was awarded total USD 7,942,297 (including arbitration costs)
- > Award costs of arbitration: Costs follow the award
ARBITRAL DECISIONS
|
6 July 2007 |
3 March 2010
|
ANNULMENT PROCEEDINGS
|
21 March 2011 |
ENFORCEMENT PROCEEDINGS
10 November 2011 - Claimants request for the recognition and enforcement of Arbitral Award 19 January 2011 - Decision to terminate the stay of the enforcement proceeding 12 November 2010 - Decision to stay the enforcement of the award |
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- > Claimant : Limited liability company Amto
- > Nationality : Latvia
- > Respondent : Ukraine
- > Procedural rules applied : SCC
- > Chair : Bernardo Cremades
- > Arbitrator appointed by Claimant : Per Runeland
- > Arbitrator appointed by Respondent : Christer Söderlund
- > Invoked instruments : ECT
- > Articles mentioned : Article 26 (2)
- , Article 26 (4)
- , Article 26 (5)
- , Article 22 (1)
- , Article 17 (1)
- , Article 10 (12)
- , Article 10 (1)
- , Article 1 (5)
- , Article 1 (6)
- , Article 1 (7)
- , Article 2
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches found : No breach
- > Case status : Award rendered
- > Year of the award or agreement : 2008
- > Year of registration : 2005
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- Flowchart
- > Subject matter of the dispute: Claims arising out of the bankruptcy of the Zaporozhskaya nuclear power plant and its default under contracts to claimant's subsidiary for maintenance works carried out at such plant; particularly, the alleged prevention by Ukrainian bankruptcy law and the conduct of these bankruptcy proceedings from enforcing several court orders obtained by claimant's subsidiary against the State-owned company
- > Amount claimed: EUR 15,594,096
- > Amount awarded: ZERO
- > Costs of arbitration: EUR 371,175.75
- > Award legal costs: Each party bears its own legal costs
- > Award costs of arbitration: Each party bears its own legal costs
ARBITRAL DECISION
|
26 March 2008 |
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