Smart Energy B.V. and PJSC Ukrgazvydobutok v. Ukraine

At a glance

Parties

Smart Energy B.V. and PJSC Ukrgazvydobutok v. Ukraine

Case no.

ICSID Case No. ARB/25/38

Forum and rules

ICSID Convention arbitration; ICSID Arbitration Rules in force as of 1 July 2022

Treaty

Netherlands–Ukraine BIT 1994 (as listed in the ICSID case database)

Tribunal

Sir Christopher Greenwood (President), Prof. Zachary Douglas, Prof. Dr. Stephan W. Schill

Sector

Oil and gas

Outcome

Pending. The published texts are procedural orders only (4 March 2026).

The dispute

Smart Energy B.V. and PJSC Ukrgazvydobutok brought ICSID proceedings against Ukraine. The ICSID case database describes the subject as an oil and gas enterprise and lists the Netherlands–Ukraine BIT of 1994 as the instrument invoked. The two published texts, Procedural Orders No. 1 and No. 2, set the procedural framework and the transparency regime. They do not describe the facts, the measures complained of, the claims or the defences. Procedural Order No. 2 notes the sensitive nature of the dispute.

Key holdings

1. The proceedings are governed by the ICSID Arbitration Rules in force as of 1 July 2022. The Tribunal was constituted on 27 January 2026, and the Parties confirmed that they had no objection to any member. Procedural Order No. 1, §§ 1.1, 2.1
2. With the Parties' consent given on 25 February 2026, Arjun Solanki is appointed assistant to the President. He is paid US$200 per hour and may not take over any of the President's duties as arbitrator. Procedural Order No. 1, §§ 8.1–8.4
3. English is the procedural language, and machine translations are acceptable. Any Ukrainian-English interpreter must have Ukrainian (as opposed to Russian) or English as mother tongue, and the Parties must approve interpreters in advance. Procedural Order No. 1, §§ 12.1, 12.5, 12.11
4. Document production follows a Stern schedule, and the Tribunal may refer to the IBA Rules on the Taking of Evidence 2020. The Tribunal may draw adverse inferences if a Party fails to produce documents it has been ordered to produce. Procedural Order No. 1, §§ 16.3.6–16.3.8
5. The Parties consent to ICSID publishing the Award with agreed redactions, and ICSID will publish orders and decisions. The Parties' written submissions and supporting documents will not be published. Hearings are closed unless the Parties agree otherwise at least two months before the hearing. Procedural Order No. 2, ¶¶ 8–13
6. The order sets a procedure for redactions. Each Party has 21 days from an order or decision to request non-disclosure, and the other Party then has 14 days to object. Disputed redactions go to the Tribunal on a Transparency Schedule. Procedural Order No. 2, ¶¶ 17–21

Procedural history

1. 14 October 2025First arbitrator's declaration distributed upon acceptance of appointment. Further acceptances followed on 1 December 2025 and 27 January 2026.
2. 27 January 2026Tribunal constituted.
3. 16 February 2026Decisions on Interim Relief (redacted). The text is not included here.
4. 2 March 2026First session held by video conference.
5. 4 March 2026Procedural Order No. 1 on the procedural rules and calendar.
6. 4 March 2026Procedural Order No. 2 on transparency and confidentiality.
7. 7 May 2026Decisions on Provisional Measures (redacted). The text is not included here.

Tribunal, counsel and experts

Decided by

• Christopher Greenwood President
• Zachary Douglas Co-arbitrator
• Stephan W. Schill Co-arbitrator

For the claimant

Three Crowns LLP · Independent practitioner

For the respondent

Clifford Chance · Ministry of Justice of Ukraine

Run a conflict check on these names →

Keywords

• Ukrgazvydobutok
• Smart Energy
• Netherlands–Ukraine BIT
• oil and gas
• Ukraine
• procedural order
• ICSID Arbitration Rules 2022
• transparency
• confidentiality
• redactions
• assistant to the president
• document production
• Stern schedule
• IBA Rules on the Taking of Evidence
• interim relief
• provisional measures
• Ukrainian interpretation

Summary generated with AI from the published documents — refer to the award for the authoritative text.