The evolution of the law of indirect expropriation and its application to oil and gas investments

摘要

While a case-by-case method for the determination of indirect expropriation is a practical method and is somehow the governing method given the inconsistency in arbitral practice, it is argued whether an attempt to set out a clear, consistent and appropriate method must be encouraged by tribunals. Jan Paulsson (and before him G C Christie) correctly emphasize that there is no 'magical formula' or "particular analysis" that can be applied at all times or in all circumstances, but a question arises as to whether there must be a general basis or common method that sets out the minimal requirements of indirect expropriation. Putting to one-side cases which deal with non-discriminatory regulation for public welfare objectives, a number of questions have become critical to the finding of indirect expropriation in light of the recent case law.