Energy Charter Treaty: Achievements, Challenges and Perspectives

The chapter aims at examining the main achievements and challenges of the ECT, taking into account that the ECT is the treaty expression of a process for the development of a stable and predictable legal framework of the energy sector as well as the creation of an international energy policy forum with a much broader mandate. From this perspective, the Energy Charter Conference (ECC) is charged inter alia of the periodic revision of the treaty (Article 34(7) ECT), whereas Articles 33 and 42 ECT expressly provide, respectively, for the conclusion of protocols and declarations, and for the adoption of amendments. It also explores the perspectives ahead, with special attention to the role the Russian Federation may be expected to play with regard to foreign investment in the energy sector, to the reshaping of the energy-related relations between the EU and the Russian Federation, and to the potential extension of the ECT constituency, especially to China, the Asian sub-continent and North Africa.