Introduction

The Fifth Circuit US Court of Appeals held that the government of Turkmenistan ('Turkmenistan') was not subject to the jurisdiction of an International Chamber of Commerce Tribunal ('ICC') and vacated and remanded in part a portion of an order of a Texas federal court ( Bridas SAPIC v Government of Turkmenistan, et al , No 02-20929, 5th Cir). The facts concern a joint venture agreement entered into between Turkmenneft, a Turkmenistan state-owned concern, and Bridas, an Argentinian corporation, for the purpose of conducting hydrocarbon operations in an area in ...