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Ascent Resources Plc and Ascent Slovenia Ltd v. Republic of Slovenia, ICSID Case No. ARB/22/21

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23 Jul 2020
Notice of Intent
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PARTICIPANTS
Notice of Intent
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Enyo Law
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
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Entities
Document Summary
Notice of Intent
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5 May 2022
Notice of Dispute
Document provided by: IAReporter
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Notice of Dispute
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
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Entities
Document Summary
Notice of Dispute
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15 Aug 2022
Claimant's Press Release on Commencement of Arbitration
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PARTICIPANTS
Claimant's Press Release on Commencement of Arbitration
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Document Summary
Claimant's Press Release on Commencement of Arbitration
This summary note is machine-generated. Always consult the original materials.


22 Aug 2022
Slovenia's Press Release
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Slovenia's Press Release
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Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
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Tribunal assistant
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Slovenia's Press Release
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22 Sep 2023
Claimant's Press Release
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Claimant's Press Release
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
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Document Summary
Claimant's Press Release
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22 Feb 2024
Tribunal's Order on Slovenia's Application for Security for Costs
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PARTICIPANTS
Tribunal's Order on Slovenia's Application for Security for Costs
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Claimant appointee:
Klaus Reichert
Respondent appointee
Respondent appointee:
Brigitte Stern
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
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Document Summary
Tribunal's Order on Slovenia's Application for Security for Costs
This summary note is machine-generated. Always consult the original materials.


8 Jul 2026
Claimant Press Release
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Claimant Press Release
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
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Ascent Resources Plc, Ascent Slovenia Ltd., Slovenia
Document Summary
Claimant Press Release
This summary note is machine-generated. Always consult the original materials.

Procedural Posture

This document is a regulatory announcement issued by Ascent Resources Plc on 8 July 2026, confirming the issuance of the final award in ICSID Case No. ARB/22/21. The underlying arbitration was brought by Ascent Resources Plc and Ascent Slovenia Ltd against the Republic of Slovenia under the Energy Charter Treaty (ECT). The dispute concerned regulatory measures affecting the Petišovci gas field in Slovenia, notably including the 2022 amendments to the Slovenian Mining Act.

Tribunal's Analysis and Findings

The announcement outlines the core dispositive findings of the unanimous final award dated 7 July 2026. The Tribunal dismissed all of the Respondent's jurisdictional objections, affirming its competence to adjudicate the totality of the Claimants' claims under the ECT. However, on the merits of the dispute, the Tribunal rejected the Claimants' allegations of treaty breaches, specifically denying all claims advanced under Article 10 (Fair and Equitable Treatment) and Article 13 (Expropriation) of the ECT. Consequently, the Claimants' request for compensation was denied in its entirety.

Costs and Dispositif

In its allocation of costs, the Tribunal ordered the Claimants to pay EUR 3,000,000 in respect of the Respondent's legal representation and expenses. The costs of the arbitration proceedings were apportioned in equal shares between the parties. All other claims were formally dismissed, rendering the award final and binding upon the parties.
9 Jul 2026
Respondent Press Release
Document Details:
PARTICIPANTS
Respondent Press Release
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Respondent's counsel
Ana Kerševan
Other counsel
Claimant's expert
Respondent's expert
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Country
Print reporter
Entities
Ascent Resources Plc, Ascent Slovenia Ltd., Slovenia
Document Summary
Respondent Press Release
This summary note is machine-generated. Always consult the original materials.

This document is a press release issued by the Government of the Republic of Slovenia on July 9, 2026, announcing the State's successful defense in an ICSID arbitration initiated by Ascent Resources Plc and Ascent Slovenia Ltd. The publication details a reception held by the Minister of Environment and Spatial Planning to acknowledge the contributions of the interdepartmental team, including the State Attorney's Office and the Environment Agency, in securing the favorable arbitral award.

The underlying investment dispute concerned regulatory measures and environmental permitting related to hydraulic fracturing (fracking). The claimants sought damages amounting to approximately EUR 600 million, alleging breaches of international investment protection standards. The State Attorney General emphasized the procedural and substantive complexity of the case, noting its precedential significance for the regulation of fracking and the broader intersection of environmental protection, climate change adaptation, and international investment law.

According to the press release, the ICSID tribunal unanimously dismissed the investors' claims in their entirety. Furthermore, the tribunal issued a binding costs order directing the claimants to reimburse the Republic of Slovenia EUR 3 million for the costs incurred during the arbitral proceedings, thereby fully vindicating the State's regulatory measures and safeguarding the national budget.