Originally from A Practical Guide to International Arbitration - Second Edition 

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Few industries give rise to disputes of greater complexity or consequence than those that arise in the international energy sector. Projects are often capital-intensive, technically demanding, and implemented across multiple jurisdictions and legal systems. When disputes do arise, their implications extend well beyond the legal issues at hand; they can affect operations, commercial relationships, reputation, and long-term strategic objectives. In that context, arbitration has become not merely a preferred method of dispute resolution, but an essential component of effective legal risk management in cross-border business.