The Pursuit of Stability in International Energy Investment Contracts: A Critical Appraisal of the Emerging Trends
Journal of World Energy Law and Business, Vol. 1, No. 2, 2008
37 Pages Posted: 31 May 2012
Date Written: June 24, 2008
The purpose of this paper is to examine the emerging trends of stabilization in view of the current state of international law in the ﬁeld. The theme of the paper is approachedfrom three broad perspectives. First, a brief review of the classic stabilization techniqueswill be offered, followed by an appraisal of the modern ones (which are yet to attract seri-ous scholarly attention and arbitral scrutiny) in international energy contracts with spe-cial reference to the emerging innovative pursuit of stability in the cross-border pipelineindustry. Although the focus of the present paper is on the energy industry, the discussionwill also be relevant to the broader area of international investment. Second, thefunctional value of stabilization techniques will be examined in light of the arbitral jurisprudence and juristic views. Third, the emerging conceptual perimeter of the norma-tive standards of treaty stabilization of foreign investors’ contractual rights will be criti-cally explored. And, ﬁnally some concluding remarks will be made.
Keywords: Stabilization Clauses, Contractual Equilibrium, Protection of Investment, Treaty Stabilization
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