The Impact of ECJ Judgments on Investment Arbitration Under the 1994 Energy Charter Treaty: A Particular reference to the ECJ ruling on Achmea Case of March the 6th of 2018



The 1994 Energy Charter Treaty (ECT) is a unique multilateral investment and trade treaty that was developed to provide a suitable framework for the stimulation of multilateral energy cooperation. It is one of the frequently invoked trade treaties in multinational arbitration cases. As a result, numerous landmark judicial decisions on investment arbitration have been made, including the Achmea Case decision of March the 6th of 2018. Nevertheless, most of these rulings, including the Achmea Case decision, tend to uphold European laws at the expense of the Energy Charter Treaty (ECT), thereby raising questions on the relevance of the treaty in European arbitration frameworks. Consequently, these judgments are likely to be having a considerable impact on energy cooperation and investment between State parties. This study however, aims to discuss the existence of any possible impacts of the European Court of Justice judgments on the question of investment arbitration under the ECT, with particular reference to the effects of the Achmea Case decision as well as its implications on the future trade and investment agreements.

Key Words: Investor-State dispute; Energy Charter Treaty; Intra-EU treaties; Investment arbitration