INTRODUCTION

1. I begin by confirming what is stated in Paragraph 154 of the Award on Preliminary Objections ("the Award') to which this Separate Opinion is appended. The fact that the Award does result from such "extensive and collegial deliberations" with coarbitrators whose integrity and intellect I respect most highly renders me particularly hesitant to air the views set forth below. Yet, I choose to articulate my partially differing views for two reasons. First, I believe that by doing so I may contribute usefully to the public debate over the issues addressed by this Tribunal in this case, a debate reflected in past awards of other tribunals and doubtless to be continued in ongoing and future arbitrations. Second, given what we have been informed may be the practical impact of the Award,l it may not be amiss to anticipate the possibility of judicial proceedings in due course in which the correctness of the Award is put in issue, in which case I entertain the fond hope that the views I express may further illuminate certain issues for the benefit of any such forum.