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COMMENTARY ON THE ENERGY CHARTER TREATY

RAFAEL LEAL-ARCAS

The Commentary on the Energy Charter Treaty (ECT) provides a unique, article-by-article, textual analysis of this important international agreement. The ECT outlines a multilateral framework for cross-border cooperation in the energy sector based on the principles of open competitive markets and sustainable development.
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ARTICLE 9: ACCESS TO CAPITAL

Beatriz Huarte Melgar

Extract

Access to capital (ECT Art 9) is, like ECT Article 8, a significant instrument for international energy cooperation as well as energy trade and investments. This legal provision is fundamental to finance trade in energy materials and products and, therefore, to promote the investments of foreign enterprises and their operations. However, the drafting of this precept has been carried out so as to find a compromise among the ECT Contracting Parties; accordingly, it can be considered as a ‘best efforts’ clause. In this regard, this chapter makes a commentary on ECT Article 9 to understand its raison d’être and relevance for the access to capital markets in the energy sector.

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