Environmental / Energy Law

Stability and Legitimate Expectations in International Energy Investments

By Rahmi Kopar
Hart Publishing April 2023

Specifications

ISBN-13
9781509952076
Publisher
Hart Publishing
Publication
April 2023
Format
Paperback
Jurisdiction
U.K. ? Countri(es) for reference only

Also available as

Details

This book assesses stability guarantees through the lens of the legitimate expectations principle to offer a new perspective on the stability concept in international energy investments. The analysis of the interaction between the concepts of stability and legitimate expectations reveals that there are now more opportunities for energy investors to argue their cases before arbitral tribunals. The book offers detailed analyses of the latest energy investment arbitral awards from Spain, Italy and the Czech Republic, and reflects on the state of the art of the legitimate expectations debate and its relationship with the stability concept. The author argues that, in order to achieve stability, the legitimate expectations principle should be employed as the main investment protection tool when a dispute arises on account of unilateral host state alterations. This timely work will be useful to both scholars and practitioners who are interested in international energy law, investment treaty arbitration, and international investment law.

Table of Contents

1. Introductory Remarks: The Quest for Stability
I. General Introduction and Background II. Objectives and Scope of the Book III. Justification and Significance of the Book IV. Methodology and Structure of the Book
2. International Energy Investments, the Risks and the Protection Methods
I. Introduction II. Definition of Investment III. International Energy Investments: What is Special about them? IV. Risks in Energy Investments V. Political Risks VI. Sources of Investment Protection against Political Risks VII. Conclusion
3. Stability in International Energy Investments
I. Introduction II. The Stability Concept in General III. Stability Provisions Defined IV. Sources of Stability Guarantees V. The Changing Role of Stability Provisions VI. Conclusion
4. Backgrounds of Two Contentious Concepts: Fair and Equitable Treatment Standard and Legitimate Expectations
I. Introduction II. The Fair and Equitable Treatment Standard III. Investors' Legitimate Expectations IV. Conclusion
5. The Legitimate Expectations Principle in Investment Treaty Arbitration: Current Status and Contours
I. Introduction II. What Creates Legitimate Expectations? III. Temporal Requirement of Legitimate Expectations IV. How Can an Expectation be Considered Legitimate? V. A Test to Identify Legitimate Expectations VI. Conclusion
6. Legitimate Expectations and Stability: The Interplay
I. Introduction II. Legitimate Expectations 'from' Stability III. Legitimate Expectations 'to' Stability IV. Conclusion
7. Concluding Remarks
I. General Conclusions II. Main Findings III. Recommendations
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