Edited by Rafael Leal-Arcas and Jan Wouters
Chapter 10: The International Energy Charter: a new impetus for global energy governance?
On 21 May 2015 the International Energy Charter (IECT) was signed at a ministerial conference in the Netherlands. In its setup the IECT aims at a wider global engagement and to balance out the interests of energy consuming, producing and transit countries whilst ensuring sovereign equality of states irrespective of their levels of economic development. Amidst some of the profound shifts that took place in international energy markets over the past decades, the IECT aims to add an additional layer of governance to the global energy landscape as, in institutional terms, the Treaty was born out of the idea that international energy markets suffer from a lack of appropriate governance. At present, an encompassing treaty or institution that is able to cover the whole spectrum of energy issues, and give a voice to all relevant stakeholders as such does not exist. This chapter assesses the question of whether the IECT is able to fill this void.
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