Pipeline Coordination: The Importance of Properly Defining an Arbitral Tribunal’s Authority in Gas Price Review Arbitration
Unprecedented events in international gas commerce have significantly increased gas pricing disputes. International arbitration, as a neutral and binding process, offers a plethora of advantages to international players of the energy industry who are interested in resolving their disputes in an efficient way. However, gas price review is extremely complex. In particular, a gas price review clause is what delineates an arbitrator’s mandate and hence, arbitrators must be prudent to pay careful attention to act within the boundaries of their authority. Failure to do so may result in the award being set aside. This paper addresses: (1) the determination of arbitral tribunals’ authority to revise the contract price according to the scope of parties’ agreements; (2) the effects of tribunals’ excess of powers in relation to the recognition and enforcement of the award; and (3) potential strategies in drafting gas price review arbitration clauses.
Aikaterini (Katerina) Karamousalidou,
Pipeline Coordination: The Importance of Properly Defining an Arbitral Tribunal’s Authority in Gas Price Review Arbitration,
23 Pepp. Disp. Resol. L.J.
Available at: https://digitalcommons.pepperdine.edu/drlj/vol23/iss1/5