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Global Arbitration in the Energy Sector
04 January 2022
Julie M. Carey, Dr. Fabrizio Hernandez and Dr. Richard Hern
NERA Managing Directors Julie M. Carey and Dr. Fabrizio Hernández, with contributions from Managing Director Dr. Richard Hern, recently participated in a roundtable interview in Corporate Disputes Magazine, published by Financier Worldwide, in which they outline recent trends in energy-related international arbitration. NERA was joined by Hogan Lovells Partners Daniel González, Dr. Inken Knief, and Kent Phillips to discuss recent key trends and high-profile cases in energy sector arbitration, explore the underlying causes of disputes and the impact the COVID-19 pandemic, and examine challenges in energy sector disputes.
When asked about his outlook for arbitration in the energy sector, Dr. Hernández observed that “decarbonization” will be a key word that “will inform virtually all energy policies everywhere.” He cautioned that “the temptation for local governments to deal with [energy price] spikes in ways that may reduce the credibility of the regulator regime is something to watch for.”
Ms. Carey shared her thoughts on the importance of expert witnesses in the arbitration process, saying, “Expert witnesses are not advocates. Their duty is assisting the tribunal by educating them with regard to their special area of expertise….[E]xperts can help by simplifying the complicated, explaining the inner workings of the industry, and untangling any moving parts.”