“Area” means with respect to a state that is a Contracting Party:
(a) the territory under its sovereignty, it being understood that territory includes land, internal waters and the territorial sea; and
(b) subject to and in accordance with the international law of the sea: the sea, sea-bed and its subsoil with regard to which that Contracting Party exercises sovereign rights and jurisdiction.
With respect to a Regional Economic Integration Organisation which is a Contracting Party, Area means the Areas of the member states of such Organisation, under the provisions contained in the agreement establishing that Organisation.
Partial Award on Jurisdiction and Liability, 2 September 2009, Paragraph 140
Award, 15 June 2018, paragraphs 218-221
Final Award, 27 December 2016, paragraph 281
Award, 21 January 2016, paragraphs 429-430
Final Award, 14 November 2018, para 163
Final Award, 17 July 2016, paragraphs 635-637
Decision on the Achmea Issue, 31 August 2018, paragraphs 175-184