The First Pancake Always Has Lumps: Alberta Petroleum Companies, Arbitration and Arbitral Award Enforcement in the Russian Federation

Alberta petroleum companies stand to benefit a great deal from joint-venture operations in Russia; however, the potential risks involved are enormous as well. This article examines means by which Alberta companies can protect themselves, namely through arbitration agreements, and some important terms that should be drafted into such contracts. As well, an analysis is provided of the arbitration system and some possible outcomes should a dispute arise once an Alberta company has commenced operations in Russia.