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International Arbitration in the Energy Sector edited by Scherer, Maxi (22nd February 2018)

Part II Investor-State Arbitration in the Energy Sector, 7 Contractual Mechanisms for Stability in Energy Contracts

Loukas Mistelis

From: International Arbitration in the Energy Sector

Edited By: Maxi Scherer

Subject(s):
Arbitral awards, recognition and enforcement — Enforcement

This chapter discusses the interpretation and enforceability of various contractual means typically used in energy contracts to ensure a sustainable relationship between the contracting parties. These are the stabilization or freezing clauses and the economic equilibrium clauses together with the variants of adjustment, force majeure, and hardship clauses. These clauses are discussed from a historical and comparative viewpoint. In addition, while a dispute is occurring, it is essential to preserve the contract and relationship between the parties, and thus the chapter also looks at how multi-tiered dispute resolution clauses contribute to achieving this objective. The chapter then concludes with an outlook into current trends and future perspectives.

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