仲裁专家周五在伊斯坦布尔仲裁日第三天表示，地缘政治冲击、能源价格波动和监管变化越来越多地考验整个能源行业的合同安排。
Geopolitical shocks, volatile energy prices and regulatory changes are increasingly testing contractual arrangements across the energy sector, arbitration experts said Friday on the third day of Istanbul Arbitration Days.
伊斯坦布尔仲裁日周五，专家们在题为“整个能源行业：争端、合同和重要问题”的小组会议上发表讲话，讨论了从长期供应协议和制裁到投资保护、退役和损害赔偿等挑战。
Istanbul Arbitration Days Speaking at a panel on Friday titled Across the Energy Sector: Disputes, Contracts and the Issues that Matter, experts discussed challenges ranging from long-term supply agreements and sanctions to investment protection, decommissioning and damages.
Boies Schiller Flexner LLP合伙人Timothy Smyth指出，围绕雪佛龙收购赫斯的纠纷是合同条款措辞如何在重大能源交易中发挥决定性作用的一个例子。
Contract drafting increasingly critical amid market shocks Timothy Smyth, partner at Boies Schiller Flexner LLP, pointed to the dispute surrounding Chevron's acquisition of Hess as an example of how the wording of contractual provisions can become decisive in major energy transactions.
这起纠纷涉及埃克森美孚声称，该交易触发了涵盖赫斯在圭亚那斯塔布鲁克区块权益的联合运营协议下的优先购买权。
The dispute involved ExxonMobil's claim that the transaction triggered pre-emption rights under a joint operating agreement covering Hess's interest in Guyana's Stabroek Block.
史密斯表示，此案证明了起草足够精确的控制权变更条款以解释不同形式的公司交易的重要性。
Smyth said the case demonstrated the importance of drafting change-of-control provisions precisely enough to account for different forms of corporate transactions.
他说：“我认为，对于能源行业的从业者和参与者来说，这里需要注意的重要事情是关于合同起草的教训。”
"The important thing to note here, I think, for practitioners and for participants in the energy sector is a lesson on contract drafting," he said.
他还强调了长期天然气协议中价格审查机制日益重要，并指出近年来重大地缘政治冲击极大地影响了能源市场。
He also highlighted the growing importance of price-review mechanisms in long-term gas agreements, noting that major geopolitical shocks in recent years have dramatically affected energy markets.
史密斯补充说，如果他今天起草合同，他将纳入允许价格审查和重新开放的条款，以应对重大市场变化。
Smyth added that if he was drafting a contract today, he would include provisions allowing for price review and reopening to address major market changes.
Larist高级合伙人Murat Erbilen表示，最近的液化天然气纠纷表明，当市场条件发生巨大变化时，合同假设如何变得至关重要。
Murat Erbilen, senior partner at Lexist, said recent LNG disputes illustrated how contractual assumptions can become critical when market conditions change dramatically.
他说，法庭通常关注各方如何分配风险以及协议中包含哪些机制，而不是简单地修改合同，因为交易的经济性已经发生变化。
Tribunals, he said, generally focus on how the parties allocated risks and what mechanisms they included in their agreements rather than simply revising contracts because the economics of a transaction have changed.
埃尔比伦还强调，退役是长期风险的一个越来越重要的来源，特别是对于石油和天然气资产来说，这些资产的义务可能会在合同签署几十年后产生。
Erbilen also highlighted decommissioning as an increasingly important source of long-term risk, particularly for oil and gas assets, where obligations may arise decades after contracts are signed.
“教训很简单：从第一天起，退役就应该被视为项目风险分配的核心部分，”他说。
"The lesson is simple: decommissioning should be treated as a core part of the project's risk allocation from day one," he said.
能源项目的投资保护重点Symbion首席执行官兼联合创始人Paul Hinks重点关注非洲能源投资者面临的风险，包括涉及公用事业和政府的纠纷。
Investment protection in focus for energy projects Paul Hinks, CEO and co-founder of Symbion, focused on risks facing energy investors in Africa, including disputes involving utilities and governments.
欣克斯根据公司的经验表示，企业在结构投资时不仅应该考虑合同仲裁条款，还应该考虑投资条约保护。
Drawing on his company's experience, Hinks said businesses should not only consider contractual arbitration provisions but also the investment treaty protections available when structuring investments.
他表示，双边投资条约和投资者与国家仲裁可以在单独执行合同权利困难的情况下提供额外的影响力。
He said bilateral investment treaties and access to investor-state arbitration could provide additional leverage where enforcing contractual rights alone proves difficult.
Basar Sahin，ICM咨询有限公司总经理，表示，公司通常只有在纠纷升级后才开始准备仲裁。
Basar Sahin, general manager of ICM Consulting Ltd., said companies frequently begin preparing for arbitration only after a dispute has already escalated.
他说，这种方法可能会造成重大证据问题，特别是当公司未能保存同期项目记录、发布合同通知或保存技术和财务数据时。
That approach can create major evidentiary problems, particularly when companies have failed to maintain contemporaneous project records, issue contractual notices or preserve technical and financial data, he said.
沙欣说：“当合同缺乏严格的通知执行、精确的技术规范和强制性的数据透明度时，非正式的解决方案将取代实时文档。”
"When contracts lack strict notification enforcement, precise technical specifications and mandatory data transparency, informal workarounds replace real-time documentation," Sahin said.
该小组还讨论了能源纠纷中损害赔偿的计算，包括利润损失和大宗商品价格波动的影响。
The panel also addressed the calculation of damages in energy disputes, including lost profits and the impact of fluctuating commodity prices.
史密斯表示，法庭往往会关注项目的商业现实，包括其运营历史、前景和可比项目，而当大宗商品价格大幅波动时，用于评估损害赔偿的日期可能会显着影响裁决。
Smyth said tribunals tend to focus on the commercial realities of a project, including its operating history, prospects and comparable projects, while the date used to value damages can significantly affect awards when commodity prices have moved sharply.
埃尔比伦表示，围绕《能源宪章条约》（ECT）的变化也导致投资者考虑更广泛的保护组合，包括双边投资条约、合同仲裁条款和政治风险保险。
Erbilen said changes surrounding the Energy Charter Treaty (ECT) were also leading investors to consider a broader mix of protections, including bilateral investment treaties, contractual arbitration provisions and political risk insurance.
“欧洲部分地区ECT时代的结束并不意味着能源项目投资保护的结束，”他说。
"The end of the ECT era in parts of Europe does not mean the end of investment protection for energy projects," he said.