ExxonMobil Initiates ICSID Arbitration Proceedings against the Netherlands Over the Closure of the Groningen Gas Field

Executive summary:  On 30 September 2024, ExxonMobil filed an arbitration claim against the Netherlands at the International Centre for the Settlement of Investment Disputes (ICSID), challenging the government’s decision to cease gas extraction in the Groningen field. ExxonMobil argues that the decision, made to prevent earthquake risks, violates its