Cyprus-Turkey Gas Dispute: is arbitration the solution? скачать в хорошем качестве

Cyprus-Turkey Gas Dispute: is arbitration the solution?

The gas dispute between Cyprus and Turkey unfolding in the eastern Mediterranean Sea is getting worse by the day. Turkey is sending its oil & gas company to explore and drill in the same blocks that were assigned by the Republic of Cyprus to American, French, Dutch, Israeli, Qatari, Italian and South Korean companies. The Turkish company is escorted by military drones. Turkish foreign Affairs Minister hasn't ruled out the use of force in case of any drilling for gas in the waters off Cyprus without first Turkey's authorization. The US, France and Italy are sending their navy to protect the drilling-ships flying their respective flags and conducting military exercises in conjunction with Cypriot navy. As the current dispute is dangerously escalating into a military confrontation, we – at Bottega Di Bella law firm – are proud to present you with a set of more peaceful and cost-effective solutions than deploying the navy, all revolving around international arbitration: 1) firstly, the foreign oil & gas companies holding a Cypriot license to explore around the island may launch a class action investment arbitration against Turkey by relying on the bilateral investment treaties between their home-States and Turkey (these foreign oil & gas companies include Total, ENI, Kogas, ExxonMobil, Qatar Petroleum, Noble Energy, Shell and Delek); 2) secondly, the home-States of these foreign companies may initiate a State-to-state investment arbitration against Turkey on the basis of the bilateral investment treaties they entered into with Turkey (the home-States involved include the USA, France, Italy, Qatar, South Korea, and Israel); 3) thirdly, Cyprus itself (and also Greece) may commence an investment arbitration against Turkey by relying on Turkey's consent contained in the Energy Charter Treaty to arbitrate disputes concerning the energy sector just like the gas dispute at hand. The benefits of these international arbitrations over the deployment of the military are manifold. To mention a few the use of the U.S., French or Italian navy – while protecting their national oil & gas companies – will not prevent the Turkish oil & gas company from drilling in Cyprus' waters. On the other hand, in such international arbitrations, the claimants may request the tribunal to order provisional measures to the effect that Turkey may not engage in exploration with respect to the blocks in question, making the naval escort unnecessary. In addition to that, any of these arbitrations will be cheaper than filling up the tank of any warship. Last, but not least, these arbitrations are a more peaceful tool than military confrontation and equally capable of exercising the international pressure required to stop Turkey's acts of piracy in Cyprus' waters. For more details about these practical, cost-effective and peaceful solutions to the gas dispute, read the article posted on Kluwer Arbitration Blog: http://arbitrationblog.kluwerarbitrat... http://arbitrationblog.kluwerarbitrat... Visit us at https://www.bottegadibella.com/ For any inquiry do not hesitate to contact us at danilo.dibella@bottegadibella.com Bottega Di Bella: Empowering your international rights!