The UK has announced that it will review its membership of the Energy Charter Treaty (the “ECT” or “Treaty”) if there is no agreement on modernisation by November 2023. This announcement comes after a second vote on modernisation, previously scheduled for April 2023, was postponed. The UK and EU had been key drivers in the modernisation of the ECT, which was agreed in principle (the Agreement in Principle, or “AIP”) in June 2022. We reported on the modernisation of the ECT last year. The proposed amendments to the ECT included: a “flexibility” mechanism that
