Arbitral Digest

Matter

Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S. v. Turkmenistan (ICSID Case No. ARB/24/13)

Case no.
ARB/24/13
Seat
France
Applicable rules
ICSID Arbitration Rules in force as of July 1, 2022
  1. 27 February 2025France

    27 February 2025France

    Procedural Order No. 1

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the procedural rules, representation arrangements, place of proceeding, procedural language, document production process, and timetable for the arbitration.

    Supporting details

    18 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Representative
    Alptug (Alp) Tokeser (For: Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.)
    Representative
    Berk Tuzuner (For: Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.)
    Representative
    Mehmet Tugberk Dekak (For: Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.)
    Representative
    Ferhan Yildizli (For: Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.)
    Representative
    Sercan Polat (For: Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.)
    Representative
    Baver Mazlum Mert (For: Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.)
    Turkmenistan
    Representative
    Ali R. Gursel (For: Turkmenistan)
    Representative
    John D. Branson (For: Turkmenistan)
    Representative
    Carlos Guzman Plascencia (For: Turkmenistan)
    Representative
    Isabel Manfredonia (For: Turkmenistan)
    Representative
    Olha Madaan (For: Turkmenistan)
    Representative
    Kate Maguire (For: Turkmenistan)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens
  2. 27 February 2025France

    27 February 2025France

    Procedural Order No. 2 on Transparency and Confidentiality

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal adopted transparency and confidentiality rules. The Award will not be published without the Parties' consent, while orders and decisions may be published with agreed or Tribunal-determined redactions; written submissions, supporting documents, hearings, transcripts, and recordings will not be published by ICSID.

    Supporting details

    4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens

    2 months and 1 day later · 60 days

  3. 28 April 2025France

    28 April 2025France

    Procedural Order No. 3: Decision on the Respondent's Request for Security for Costs

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal granted the Respondent's Request for Security for Costs. It ordered the Claimant to post USD 2 million in favour of the Respondent, permitted a bank guarantee, escrow cash, or after-the-event insurance, and reserved its decision on the costs of the application.

    Supporting details

    6 authorities · 7 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens
    Institutional administrator
    Dawn Larson

    Authorities cited

    6
    • Lotus Holding Anonim Sirketi v. Turkmenistan (ICSID Case No. ARB/17/30, Award, April 6, 2020)
      case law
    • RSM Production Corporation v. Saint Lucia (ICSID Case No. ARB/12/10, Decision on Saint Lucia's Request for Security for Costs, August 13, 2014)
      case law
    • Eugene Kazmin v. Republic of Latvia (ICSID Case No. ARB/17/5, Procedural Order No. 6, April 13, 2020)
      case law
    • Nord Stream 2 AG v. European Union (PCA Case No. 2020-07, Procedural Order No. 11, July 14, 2023)
      case law
    • Tennant Energy LLC v. Government of Canada (PCA Case No. 2018-54, Procedural Order No. 4, February 27, 2020)
      case law
    • Contreras v. Costa Rica (ICSID Case No. ARB(AF)/22/5, Procedural Order No. 2, May 2, 2024)
      case law

    1 month and 5 days later · 35 days

  4. 2 June 2025France

    2 June 2025France

    Procedural Order No. 4

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal extended the Claimant's deadline to provide details of the security for costs to June 30, 2025, allowed a further 30 days after approval to put the security in place, and kept the existing procedural schedule in effect.

    Supporting details

    6 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens

    16 days later · 16 days

  5. 18 June 2025France

    18 June 2025France

    Procedural Order No. 5

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal extended the deadline for the Claimant's Memorial to July 28, 2025, extended the deadline for the Respondent's Counter-Memorial on the Merits and Memorial on Jurisdiction to January 5, 2026, and invited further comments on the proposed amended timetable.

    Supporting details

    6 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens

    14 days later · 14 days

  6. 2 July 2025France

    2 July 2025France

    Procedural Order No. 6

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal replaced the prior procedural timetable with the revised Annex B and allowed the Claimant to file its update on obtaining security for costs by July 5, 2025.

    Supporting details

    6 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens

    2 months and 27 days later · 89 days

  7. 29 September 2025France

    29 September 2025France

    Procedural Order No. 7

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal ordered the Claimant to provide a clear, updated, and complete Neova-Lotus insurance policy by October 15, 2025, allowed the Respondent to comment by October 24, 2025, and stated that it would then advise whether it could approve the policy.

    Supporting details

    8 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    Leah W. Njoroge
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens
    Institutional administrator
    Dawn Larson

    28 days later · 28 days

  8. 27 October 2025France

    27 October 2025France

    Procedural Order No. 8

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal approved the proposed Neova-Lotus after-the-event insurance policy and ordered the Claimant to put it into effect within 30 days. It declined to rule at that time on the proposed use of documentary evidence in Reply, maintained the Respondent's January 12, 2026 filing date, and cancelled the scheduled case management conference unless a Party requested it for another topic.

    Supporting details

    6 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens

    1 month and 21 days later · 52 days

  9. 18 December 2025France

    18 December 2025France

    Procedural Order No. 9

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal denied the Claimant's request for suspension under ICSID Arbitration Rule 54, granted the Respondent's request for suspension under Rule 53(6), and suspended the proceeding effective December 18, 2025. It released the reserved hearing dates and set March 20, 2026 as the deadline for compliance with the security-for-costs obligations before possible discontinuance.

    Supporting details

    6 participants
    Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S.
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Meg Kinnear
    Arbitrator
    Lucy Greenwood
    Tribunal secretary
    Govert Coppens

Matter record

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Lotus Proje Akaryakit Enerji Madencilik Telekominikasyon Insaat Sanayi Taah. Ve Tic. A.S. v. Turkmenistan (ICSID Case No. ARB/24/13) · Matter