What is the difference between nationalization and expropriation
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Answer:
Expropriation claims have been a perennial feature in energy disputes since the 1970s. At that time, the nationalisation of US oil companies by a newly installed Gaddafi regime gave rise to early energy cases such as TOPCO v. Libya[1] and Libya American Oil Company (LIAMCO) v. Libya.[2] Over the years, we have seen developments in the mechanisms for resolving energy disputes, such as the rise of investor–state arbitrations and the adoption of the Energy Charter Treaty (ECT)[3] in 1994, but the nature of energy disputes remains fundamentally the same. It is no wonder that this is the case given the cyclical nature of energy markets. In times of rising prices, energy resources represent easy opportunities to capitalise on the upward trend for investors and governments alike.
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