"The secret of success is to know something nobody else knows"

Aristotle Onassis

Meeting: June 13, 2016: EU energy law, investment security and an honest look at the prospects for Nord Stream expansion

This interactive discussion of the Brussels Energy Club addressed the topic of:

 

"EU energy law, investment security and an honest look at the prospects for Nord Stream expansion"

 

And took place on Monday 13 June 2016, 4pm — 7.30 pm @ TUSIAD Avenue des Gaulois, 13, Brussels 1040

 

With guest 'out of town' speaker:

Ana Stanic Ana Stanič, Founder E&A Law, London, English Solicitor Advocate and an Honorary Lecturer at the University of Dundee

 

 

 

 

 

Background

Many of us energy security buffs feel that the EU is doing the right thing when it comes to developing the relevant legislation for internal harmonisation and strengthening of Europe"s energy market. That may well be the case, particularly taking into account that common rules inside the Union, based on the idea of a robust and competitive energy market capable of responding to external shocks is quintessential for our energy security. We are an import-dependant bloc, after all, where supply disruptions are hardly welcome. 

That said, where does this put us in relation to international energy legislation which may be governing supplier-consumer relations connecting actors inside the EU to third party actors outside? While we would like to see all parties trading with us in the energy sector abide by our rules and principles, member states have yet to harmonise their full plenum of existing contractual arrangements with third parties to the level of European legislation. Neither have member states always fully taken into account international law, it appears, when it comes to the treatment of existing investments inside the EU developed by European companies. Indeed, we are now seeing a rising number of arbitration cases initiated by European investors against EU member governments due to changes in European energy legislation. Such changes have allegedly harmed investor interests.

How do we reconcile EU energy law, which is still evolving, with existing energy contracts governed by international law? Further, how do we do this without damaging the investment climate inside the EU — be it for mega projects such as the Nord Stream expansion, or smaller yet highly significant investments involving renewable energy projects?  

In order to understand how evolving EU internal energy law can reconcile itself with international law, we have invited Ana Stanic to address us at the next membership meeting of the Brussels Energy Club.

In particular, we have asked Ana to enlighten us on how the complex linkages between different contract types will likely impact on investor confidence on grand energy projects inside the EU, particularly the Nord Stream expansion, which continues to divide the continent politically. These are not matters to be taken lightly. Many of us are aware that the EU"s grand investigation into Gazprom"s alleged violations continues unabated. Comparatively few of us, however, realise that during the last four decades investors have made claims totalling some US$170 billion in arbitration cases against host governments at the global level. Both the European Commission and the Member States need to better understand the full implications of the revolutionary changes taking place in EU energy legislation.

Ana Stanic well help us do exactly that at the next meeting of the Brussels Energy Club on June 13.

 

Program June 13, 2016: 16.00 — 19.30:

  • Arrival of members and guests leading into welcome cocktail    
  • Welcoming remarks by Dr Bahadir Kaleagasi, Chairman, Brussels Energy Club,
  • Setting out the debate by Dr Marat Terterov, Executive Director, Brussels Energy Club,
  • Presentation by Ana Stanič
  • Roundtable discussion with members and guests of the Brussels Energy Club (NB: the Chatham House Rule will apply).
  • Supper buffet reception and networking opportunities with the speaker and Club members will follow the interactive discussions

 

Speaker information

Ana Stanič is an English Solicitor Advocate and an Honorary Lecturer at the University of Dundee.  She founded E&A Law in 2007 following 12 years of work across government and major legal firms. She has been based in London since 1998, but has always operated internationally and is multilingual. She specialises in providing tailored advice services to states, international institutions and energy companies in the fields of energy, dispute resolution and EU and international law. In the field of energy she advises on high-level strategic questions, with experience in fields such as maritime border disputes, oil and gas resources straddling boundaries, concession agreements to construct large energy infrastructure projects, cross-border mergers and acquisitions, privatisations, and host-government agreements to build pipelines. 

Ana also advises on EU law, particularly in energy, environment and state aid, and how it relates to international law. Most recently she was part of the World Bank"s team advising on the unbundling of Naftogaz and Ukraine"s gas implementation plan. She regularly acts as counsel in investment treaty and commercial arbitrations including gas price reviews. She has appeared in the Court of Justice of the European Union. She is ranked amongst the leading energy and public international lawyers by Chambers & Partners and Legal 500.

 

Further information

Participation in the interactive discussion at TUSIAD venue will be free of charge for members and guests of the Brussels Energy Club. For more information please contact Martin Minarik on industry@brusselsenergyclub.org and/or Ben McPherson on research@brusselsenergyclub.org, or visit the contacts section of our website.

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