International Arbitration Conference on Energy Disputes Launches in Doha

Doha, February 03 (QNA) - The International Arbitration Conference on Energy Disputes launched Wednesday under the organization of International Chamber of Commerce (ICC) Qatar in cooperation with Qatar Chamber's Qatar International Center for Conciliation and Arbitration, ICC International Court of Arbitration and Squire Patton Boggs company, with the aim of promoting the culture of arbitration as an effective and easy way of settling disputes. Speaking during the opening session of the conference, HE Minister of Energy and Industry Dr. Mohamed bin Saleh Al Sada said commercial arbitration is particularly significant due to its vital role in preserving international peace and security and preventing the deterioration of disputes. HE Dr. Al Sada said the importance of energy-related arbitration is clearly seen if the volume of global trade associated with energy sources and the contribution of the energy sector to global gross domestic product are considered. He added that this stressed the importance of having a mechanism to settle disputes and explain the basics that were agreed between parties to trade transactions and collect them as a an independent and experienced reference whose rulings are accepted by all sides. HE Dr. Al Sada said that as much as Qatar strives to produce clean energy, it is always keen as well on dispute-free contracts so that there would not be future need to take matters to arbitration mechanisms, stressing that Doha enjoys good reputation with its trade partners thanks to its commitment to fulfilling agreements. The minister of energy and industry added that Qatar is a state of institutions where the judiciary has integrity and independence, reviewing the achievements of the Qatari economy until it has become the biggest source of liquefied natural gas in the world besides its other milestones. HE the minister praised the experience of Qatar International Center for Conciliation and Arbitration and the qualified national cadres it has who managed to develop it and take it the current level. For his part, ICC Qatar Chairman HE Sheikh Khalifa bin Jassim Al-Thani said energy is the main fuel of development in the world and its operations require contracts at company and country levels and, hence, there had to be an unconventional mechanism to settle disputes between contracting parties. He noted that ways of settling disputes and international arbitration have being widely accepted in several agreements because they have assurances for investors and save them the long wait and complications in regular judicial procedures. Sheikh Khalifa bin Jassim said that organizing the conference aims to shed the light on international arbitration with the participation of a group of experts and specialists, which, he added, is one of the objectives of ICC Qatar and Qatar International Center for Conciliation and Arbitration. (END)