he present proceedings were brought by three companies: Azpetrol International Holdings B.V., Azpetrol Group B.V. and Azpetrol Oil Services Group B.V. (“the Claimants”) against the Republic of Azerbaijan (“the Respondent”) for alleged breaches of the Energy Charter Treaty (“ECT”). The Respondent lodged a preliminary objection in which it contested the jurisdiction of the Tribunal and hearings on that objection were held in London in the week beginning 30 June 2008. Those hearings were adjourned in circumstances described below. On 19 December 2008 the parties notified the Tribunal that they had reached “an in principle settlement” of the case. The Claimants subsequently denied that a binding agreement to settle the case had been concluded. The Respondent disagreed and applied for an Order dismissing the proceedings by reason of binding settlement (“the Settlement Application”). This Award is concerned only with that Application.