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Energy Charter Treaty – Standards of Investment Protection

Author

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  • Miljenić Orsat

    (Croatian Parliament, Zagreb, Croatia)

Abstract

The Energy Charter Treaty (ECT) in its Part III which regulates standards of protection guaranteed to foreign investors by the ECT States members, together with the Article 24 of the ECT, constitutes a kind of autonomous investment treatment within the ECT. The ECT provides for a very broad spectrum of standards of protection: fair and equitable treatment; most constant protection and security; prohibition of unreasonable or discriminatory measures; „umbrella clause”; national treatment; most favoured-nation standard and effective means to assert the claims. It can be said that at the time of its drafting the ECT enclosed all standards of protection as recognized in BITs and NAFTA. There have been more than 100 publicly known investment arbitration cases where the ECT was invoked, more than 30 of which concluded by arbitral awards. This comprehensive arbitral practice strongly influences the practice applying other IIAs and vice versa.

Suggested Citation

  • Miljenić Orsat, 2018. "Energy Charter Treaty – Standards of Investment Protection," Croatian International Relations Review, Sciendo, vol. 24(83), pages 52-83, October.
    • Handle: RePEc:vrs:cinrer:v:24:y:2018:i:83:p:52-83:n:3
    DOI: 10.2478/cirr-2018-0014
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    References listed on IDEAS

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    1. Bonnitcha,Jonathan, 2014. "Substantive Protection under Investment Treaties," Cambridge Books, Cambridge University Press, number 9781107042414, September.
    2. Schill,Stephan W., 2009. "The Multilateralization of International Investment Law," Cambridge Books, Cambridge University Press, number 9780521762366, September.
    3. Salacuse, Jeswald W., 2015. "The Law of Investment Treaties," OUP Catalogue, Oxford University Press, edition 2, number 9780198703976.
    4. Dolzer, Rudolf & Schreuer, Christoph, 2012. "Principles of International Investment Law," OUP Catalogue, Oxford University Press, edition 2, number 9780199651801.
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