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Leal-Arcas, Rafael --- "INTRODUCTION" [2018] ELECD 1532; in Leal-Arcas, Rafael (ed), "Commentary on the Energy Charter Treaty" (Edward Elgar Publishing, 2018) 1

Book Title: Commentary on the Energy Charter Treaty

Editor(s): Leal-Arcas, Rafael

Publisher: Edward Elgar Publishing

ISBN: 9781788117487

Section Title: INTRODUCTION

Author(s): Leal-Arcas, Rafael

Number of pages: 5

Extract:

INTRODUCTION1 Rafael Leal-Arcas
The Energy Charter Treaty (ECT) is an international agreement which aims to provide a `multilateral framework for energy cooperation' based on the principles of `open, competitive markets and sustainable development'.2 By binding governments to commitments that guarantee open markets, nondiscrimination and access for foreign investment,3 the ECT aims to strengthen the global rule of law on energy issues and thereby reduce the risks associated with energy-related investments and trade.4 The ECT itself rests on five primary areas: investment protection;5 trade;6 transit;7 environmental protection;8 and dispute settlement;9 while there are optional protocols on various topics, including energy efficiency and the environment.10 In 1990, at a European Council meeting in Dublin, Ruud Lubbers, the Dutch Prime Minister, who, at the time, presided over the Council, called for more institutionalized relations with the energy-rich economies in Eurasia following their collapse in order to benefit from their consequent opening-up and orientation towards the global market-based economic order. This led to the adoption of the 1991 European Energy Charter, which is a non-legally binding political declaration embodying key principles of international energy cooperation. The 1991 European Energy Charter paved the way for the
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This introduction draws from R. Leal-Arcas, R. et al., International Energy Governance: Selected Legal Issues, Edward Elgar, 2014, pp. 346­50. For further details, Chapter 6. The Energy Charter Treaty and Related Documents: ...