International oil and gas dispute settlement and its application to Kazakhstan

The settlement of international disputes is a complex operation that is dependent greatly on the locus standi and consent of the entities involved. Such settlement falls into two very broad categories; binding and non-binding, referring generally to the legal effects of the report, award, opinion or judgment delivered. Non-binding mechanisms, in this sense, are mediation, conciliation, the use of good offices and negotiation, among others. Binding mechanisms are those of judicial litigation and arbitration, so long as the parties agree to be bound by the award rendered. This chapter will examine recourse to binding mechanisms, specifically arbitration and judicial settlement.