3vb david simpson - energy talk for ilfa
TRANSCRIPT
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Dispute Resolutionin Energy Contracts
David Simpson, 3VB
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Types of dispute
• State v State• Investor v State• Investor v Investor• Third Party v Investor
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime boundary disputes
• United Nations Convention on the Law of the Sea 1982
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
• Interim options• “provisional arrangements of a practical nature” [Art 74(3)]• “joint development zones”
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
• Permanent options• “delimitation of the exclusive economic zone” •“equitable solution” [Art 74(1)]
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
• Negotiation
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
• Binding resolution• International Tribunal for the Law of the Sea• International Court of Justice• ad hoc
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
• Non-binding resolution• mediation• conciliation
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
• Involvement of investor• operate in disputed water• host government contract terms• assist government• ownership on both sides of boundary
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Maritime Boundary Dispute resolution
CASE STUDY
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v State
• Investment treaties / ICSID• contractual dispute resolution
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v State
• Investment treaties• who is an investor?• what is an investment?
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v State
• ICSID• consent• investment• nationality• applicable law
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v State
• investment treaty claims• fair and equitable treatment• legitimate expectations• expropriation• failure to protect• umbrella clauses
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v State
• contractual dispute resolution• stabilisation clauses• mandatory renegotiation clauses• sovereign immunity clauses• dispute resolution
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v State
• remedies against states• specific performance?• damages for expropriation?
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v Investor
• Types of dispute• deadlock• default and dilution• loss of permits• HSE breaches
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v Investor
• Joint Operating Agreements• AIPN model clause• optional clauses
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v Investor
• procedural issues in arbitration• number of parties• subject matter • sovereign immunity• form of dispute resolution
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Investor v Investor
• recent examples of English litigation• Tullow Oil v Heritage Oil• Excalibur Ventures LLC v Texas Keystone Inc • Energy Venture Partners Ltd v Malabu
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Gas price review disputes
• indexation clauses• price review clauses• regular reviews• trigger events
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Gas price review disputes
• construction issues with “trigger” clauses• use of subjective words• definition of “market”, “market value”• definition of comparator
• methodology for revising the price
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Gas price review disputes
• examples of recent disputes• Gas Natural v Atlantic LNG • Esso Exploration v Electricity Supply Board
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
• third party commercial claims• asserting interests in contracts• payment of agency commissions
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
• tort claims• personal injury• breach of human rights• environmental claims
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
• tort claims• US Alien Tort Statute• vicarious liability• parent company control• piercing the corporate veil
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Individual v Investor
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3 VERULAM BUILDINGSGRAY’S INN, LONDON WC1R 5NTTEL: 020 7831 8441FAX: 020 7831 8479
[email protected] www.3vb.com
Thank you
Welcome to London!