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Following the liberalisation of gas markets, energy buyers relied on these price review clauses to align their contracts to the lower prices at gas trading hubs. Given the long-term nature of gas contracts, price review clauses were included to enable the revision of prices or the price formula, in reaction to market changes jeopardising the commercial bargain governing the contract. Price review clauses give tribunals far-reaching powers as they can revise the price formula to reflect changes in circumstances and thus, according to Levy (p 17), 'invade a space that is normally the preserve of the parties - the negotiated price'. [Extracted from the article]

It helps navigate Russia's complex energy relations with the EU, China and the US, in the context of deteriorating EU-Russia, China-US and Russia-US relations. In response to EU efforts to limit its dependency on Russian gas, Russia intensified cooperation with buyers in Asia to diversify its exports. The reform of the EU gas market, among other things, aimed to address Gazprom's vertically integrated approach to gas supply in order to reduce its influence in the EU energy market. [Extracted from the article]

The article reviews the book "Russian Renewable Energy: The Potential for International Cooperation," by Indra Overland and Heidi Kjaernet.

The article reviews the book "Investment Protection and the Energy Charter Treaty," by Graham Coop and Clarisse Ribeiro.

The article reviews the book "Property Rights and Sustainability: The Evolution of Property Rights to Meet Ecological Challenges," edited by David Grinlinton and Prue Taylor.

The article reviews the book "The EU as International Environmental Negotiator," Tom Delreux.