Arbitration — Agreement to arbitrate — Parties to agreement — Whether State becoming party to agreement countersigned by minister — Negotiating history of agreement — Jurisdiction of arbitral tribunal — Competence of tribunal to determine own jurisdiction — Procedure — Arbitrator refusing to sign award — Costs — ICC arbitration

Damages — Measure of damages — Breach of State contract — Valuation — Damnum emergens — Lucrum cessans — Loss which could be foreseen at date of contract — Methods of assessment — Discounted cash flow — Value of investment and incremental increases

Economics, trade and finance — State contracts — Contract between State-owned entity and foreign company — Whether binding upon State — Contract countersigned by minister — Proper law of contract — Contract subject to local law — Whether local law deemed to include principles of international law — Pacta sunt servanda — Principle of just compensation for expropriation — ICSID Convention — Whether ratification of Convention by State indicates intention to abide by certain international law principles — Force majeure — Whether State-owned company under control of State may invoke force majeure clause — Damages for breach of contract — Measure of damages

Expropriation — Contractual limitations upon State’s powers of expropriation — Compensation — Valuation of investment

State immunity — Waiver — Agreement to arbitrate — Whether State’s agreement to international arbitration amounts to waiver of immunity — State contract providing for ICC arbitration

State responsibility — For breaches of contract — Contract concluded by State-owned entity — Countersignature of minister — Whether State a party to contract