CYIL vol. 10 (2019)

BIRUTĖ PRANEVIČIENĖ – VIOLETA VASILIAUSKIENĖ CYIL 10 ȍ2019Ȏ international law.” The ECT adopts the same general approach to investor-state dispute resolution as the approach taken in most BITs and NAFTA, requiring the satisfaction of certain jurisdictional conditions before a party can invoke the dispute resolution provisions of the ECT.” 87 Thus this system allows for a more transparent and liberalised system of investments in energy sector in Charter Treaty signatory countries and this in turn and in the longer period of time reduces risks related to the possible interruptions of energy flow. 2.2.3 Russian position regarding Energy Charter process It is with regret that one can note that “on 17 April 2018, the Russian Federation officially confirmed their intention not to be considered as Signatories to the Energy Charter Treaty and the Protocol on Energy Efficiency and Related Environmental Aspects” 88 which it had signed beforehand. It is an important obstacle in cooperation in energy security as Russia is, firstly, an important partner for Europe in terms of energy import, and secondly, as Russia is prone to employ hybrid tactics in reaching its political aims 89 . Speaking about import of energy products into EU, “Russia was the largest supplier of natural gas to the EU, both in 2017 and 2018, and that the only other partners with a significant share in total extra-EU imports were Norway and, at some distance Algeria and Qatar.” 90 EU statistics provided by Eurostat show that Russia was “less dominant in petroleum oils than in natural gas but still far ahead of the second largest supplier, Norway. […] In value the share of Russia which was 33% in 2012, fell to 28% in 2015, went up to 30% in 2017 and was back to 28% in 2018.” 91 2.3 The International Energy Charter – a step into wider waters? The International Energy Charter (hereinafter – IEC) was adopted in Hague, Netherlands on 20th and 21st of May 2015, aiming to stir the international cooperation in energy field further, as the Energy Charter process was coming to a stand-still. 92 In its nature, it is similar to European Energy Charter in a way that it is a political intention declaration aiming to strengthen energy cooperation between the signatory states, not bearing any legally binding obligation or financial commitment. It sets out several common principles for international cooperation in energy field. 93 In its preamble, the drafters and signatories of the IEC recognise “the importance of energy security of energy producing, transit and consuming countries, regardless of their state of economic development, as well as access to modern energy services, which needs to 87 REED Lucy; MARTINEZ Lucy, The Energy Charter Treaty: An Overview, 14 ILSA Journal of International and Comparative Law 405 (2008), p. 418. 88 International Energy Charter. Russian Federation. https://energycharter.org/who-we-are/members-observers/ countries/russian-federation/ [accessed 31 May 2019]. 89 NATO Parliamentary Assembly. Committee on the Civil Dimension of Security. Countering Russia’s Hybrid Threats: an Update. Special Report by Lord JOPLING (United Kingdom) Special Rapporteur. 1 October 2018. https://www.nato-pa.int/download-file?filename=sites/default/files/2018-12/166%20CDS%2018%20E%20 fin%20-%20HYBRID%20THREATS%20-%20JOPLING_0.pdf [accessed 31 May 2019]. 90 EUROSTAT. EU imports of energy products – recent developments. Data extracted October 2018. https:// ec.europa.eu/eurostat/statistics-explained/pdfscache/46126.pdf [accessed 31 May 2019]. 91 Ibid. 92 AALTO Pami, The new International Energy Charter: Instrumental or incremental progress in governance? Energy Research & Social Science 11 (2016), p. 93. 93 The International Energy Charter. https://energycharter.org/process/international-energy-charter-2015/overview/ [accessed 31 May 2019].

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