| The Energy Charter Treaty(hereinafter referred to as ECT)is a milestone of international cooperation in resolving energy issues.In particular,Article 26 of ECT-Investment Arbitration Clauses,which has a profound impact on nowadays international energy investment practice.Since the ECT came into effect in 1998,as of December 2019,a total of 122 arbitration cases have been filed under the ECT.Energy cooperation is an important content of the "Belt and Road" initiative,and energy investment is an important area of energy cooperation.With the promotion of the "Belt and Road" initiative,energy investment has developed rapidly.The occurrence of investment disputes is inevitable.However,the existing dispute settlement mechanism in the region and its application are flawed and cannot fully meet the energy investment dispute settlement in the region.So it’s necessary to build a "Belt and Road" energy investment dispute settlement mechanism.This paper focuses on Article 26 of the ECT,analyzes the jurisdiction and entity problems of the dispute settlement mechanism between investors and contacting parties,summarizes the contribution and deficiency of the dispute settlement mechanism,and finally puts forward the suggestions of how to build the "Belt and Road" energy investment dispute settlement mechanism with reference to the current situation of its energy investment.This article consists of six parts,the first chapter is the introduction,the sixth chapter is the summary and prospect,and chapter two to five are the text of the article.The second chapter is the energy investment dispute settlement mechanism in the ECT.Based on the introduction of the ECT and its dispute settlement mechanism,a detailed analysis of the jurisdictional issues and substantive issues of the mechanism is made in combination with ECT specific provisions and typical cases.The jurisdictional issues include the definition of host country,investment and investors,,temporary application,while the substantive issues are divided into two aspects:expropriation and relevant treatment rules.The third chapter is the experiences and deficiencies of the ECT energy investment dispute settlement mechanism.The experiences include the institutional value and practical role of the dispute settlement mechanism.There are disputes on the definition of the investment concept,the characterization of the interest rejection clause,and the application of the most-favoured-nation clause in the specific arbitration practice.The fourth chapter is an overview of the existing energy investment dispute settlement mechanism of the "Belt and Road" and its problems.It focuses on the existing bilateral,regional and global energy investment dispute settlement mechanism of the "Belt and Road",analyzes the difficulties faced by the existing mechanism from its own defects and applicable obstacles,then draws the conclusion that the "Belt and Road" dispute settlement mechanism needs to be built.The fifth chapter is to build a "Belt and Road" energy investment dispute settlement mechanism with reference to ECT,which includes following the basic principles of Fairness and Justice,Consultation,Contribution and Shared Benefits,Rational and Efficient,and so on.Then concludes the "Belt and Road" energy investment dispute settlement treaty,sets up a "Belt and Road "investment dispute settlement center which including prevention agencies,mediation agencies,and arbitration agencies. |
