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Dergiler / Necmettin Erbakan Üniversitesi hukuk fakültesi dergisi / 2022 / Cilt: 5 Sayı: 2

‘THE STABILIZATION CLAUSE’ OF THE BAKU-TBILISI-CEYHAN PIPELINE AGREEMENTS: A LEGAL REVIEW

Samet Tatar(YILDIRIM BEYAZIT ÜNİVERSİTESİ)0000-0002-3553-1683
Sayfa
465–481
Yayın Tarihi
2022-12-30
DOI
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⚡ TL;DR(1 Cümlede Hızlı Çıkarım)

This paper proposes some important legal tools to alleviate these concerns over stabilization clauses in pipeline investment contracts.

📌 3 Maddede Bu Makale

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Amaç & Hipotez:International investment contracts usually involve stabilization clauses that are prevalently used in infrastructure, telecommunication, and energy sectors, especially in the oil and gas extraction industries.
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Temel Bulgular & Veri:In the petroleum industry, foreign investors providing advanced technology and substantial financial capital for oil development often face political risks in developing countries such as expropriation of pipeline investments, increased taxes, and other fees for projects throughout the contractual performance.
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Sonuç & Katkı:This paper proposes some important legal tools to alleviate these concerns over stabilization clauses in pipeline investment contracts.
🔬Tür:Araştırma Makalesi
📍Kapsam:Genişletilmiş Akademik Örneklem
⚙️Değişkenler:Stabilization Clause · Foreign Direct Investment · International Investment Contract

Özet

International investment contracts usually involve stabilization clauses that are prevalently used in infrastructure, telecommunication, and energy sectors, especially in the oil and gas extraction industries. In the petroleum industry, foreign investors providing advanced technology and substantial financial capital for oil development often face political risks in developing countries such as expropriation of pipeline investments, increased taxes, and other fees for projects throughout the contractual performance. These stabilization provisions disincentive host states from enacting new laws or enhancing their laws and regulations on environmental, public health, labor, and human rights standards. The stabilization clause of the Baku-Tbilisi-Ceyhan (BTC) Pipeline Agreement was criticized as a great obstacle to Turkey’s regulatory ability to enhance environmental, health, labor, and human rights standards. Indeed, the BTC’s stabilization clause neutralizes Turkey’s laws and regulations for forty years. This paper proposes some important legal tools to alleviate these concerns over stabilization clauses in pipeline investment contracts.

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Bu Makaleye Atıf Yap

Tatar, S. (2022). ‘THE STABILIZATION CLAUSE’ OF THE BAKU-TBILISI-CEYHAN PIPELINE AGREEMENTS: A LEGAL REVIEW. Necmettin Erbakan Üniversitesi hukuk fakültesi dergisi, Cilt: 5 Sayı: 2, 465–481. https://ajindex.com/articles/1431139

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Kaynakça (10)

  1. Amnesty International, Human Rights on the line Baku Tbilisi Ceyhan Pipeline Project, 2003, http://bankwatch.org/documents/report_btc_hrights_amnesty_05_03.pdf, Accessed 1 May 22.
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  3. British Petrol. Baku-Tbilisi-Ceyhan (BTC) Pipeline, http://www.bp.com/en_ge/bp-georgia/about-bp/bp-in-georgia/baku-tbilisi-ceyhan--btc--pipeline.html, Accessed 1 May 2022.
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  7. Çal, Sedat. “Bakü-Tiflis-Ceyhan Boru Hattı Projesi Kapsamındaki Anlaşmaların Hukuki Yönden Değerlendirilmesi” Ankara Üniversitesi Sosyal Bilimler Dergisi, Vol. 63, No. 4, 2008, pp. 89-134.
  8. Fauchald, Ole Kristian. “International Investment Law and Environmental Protection”, Yearbook of International Environmental Law, Vol: 17, No: 1, 2007, p.3
  9. Gehne, Katja and Brillo, Romulo, Stabilization Clauses in International Investment Law: Beyond Balancing and Fair and Equitable Treatment, Swiss National Center of Competence in Research, 2014, http://www.wti.org/fileadmin/user_upload/nccr-trade.ch/wp2/Stab_clauses_final_final.pdf. They were accessed on 1 May 22.
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