Energy - Oil & Gas

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Recent Articles

  •  
    13/03/2024
    International

    After EU Commission's first decision on Carbon Contracts for Difference, Germany initiates bidding of EUR 4bn

    The European Commission approved the first Carbon Contracts for Difference (CCfD) scheme under the new Guidelines on State aid for climate, environmental protection and energy 2022 (CEEAG).Following the Commission's decision, on 12 March 2024 the German Federal Ministry for Economic Affairs and Climate Protection (BMWK) initiated the first bidding process with a total volume of EUR 4bn. With this funding scheme, Germany is taking a pioneering role in Europe and internationally in the field of state aid for climate protection. Concept of contracts for differenceA contract for difference entitles...
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  •  
    05/03/2024
    Ukraine

    Ukraine further simplifies procedure for changing land-plot designations for energy and industrial construction

    On 6 February 2024, the Ukrainian parliament passed Law No. 3563-IX “On Amendments to Certain Legislative Acts of Ukraine to Engage Investments for the Purpose of Quick Rebuilding of Ukraine”. On 26 February 2024, the President of Ukraine signed this draft legislation into law.This law builds upon previous legislative initiatives aimed at simplifying procedures related to changing the designated purpose of land. In 2022, parliament streamlined the process for changing the designated purpose of lands for relocated enterprises, river ports and critical infrastructure.By enacting Law No....
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  •  
    01/03/2024
    United Kingdom, Norway

    “End user” combustion emissions – an essential requirement in environmental impact assessments for upstream oil & gas developments?

    End-user combustion emissions, and the extent to which these should be considered in the context of industrial developments, have been the subject of recent attention in both the oil and gas industry and the wider media.  Environmental campaigners argue that these should be taken into account in assessing the environmental impact of a proposed development; typically regulators and government authorities have adopted a narrower approach. This article discusses two significant cases considering this issue - a recent decision of the Oslo District Court in Norway, and an anticipated decision of...
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  •  
    27/02/2024
    United Kingdom

    NSTA Consultation on Carbon Storage Data

    In 2023, the UK’s first carbon storage licensing round led to the award of 21 offshore carbon storage licences. A handful of licenses had been awarded prior to the licensing round, so that there are now a total of 27 such licences in place. Some of these licences have been incorporated in the four Track 1 and Track 2 carbon capture usage and storage clusters, which are intended to escalate industry expansion and promote start-up without delay. By 2030, it is projected that these four clusters will contribute towards a total of 20-30 million tonnes of CO₂ per year (MtPA) being captured...
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  •  
    23/01/2024
    United Kingdom

    OEUK Decommissioning Security Agreements – Default Provisions

    It is crucial to the operation of the arrangements set out in decommissioning security agreements (“DSA”) that parties post the required security within the timelines set out in the DSA as well as comply with their other obligations under the DSA. To enforce this requirement (and in common with many types of contracts), DSAs will include default provisions to cover various circumstances which may impact on the amount of availability of the security provided under the contract.The consequences of default when such circumstances arise differ depending on the specific terms of the provisions....
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  •  
    12/01/2024
    United Kingdom

    Oil & Gas - Russian Companies and Force Ma­jeure/Sanc­tions revisited

    In Litasco SA v Der Mond Oil and Gas Africa SA and Locafrique Holdings SA [2023] EWHC 2866 (Comm), the Commercial Court confirmed its approach to applying sanctions to oil and gas entities with Russian connections and the application of force majeure and sanctions clauses in that context. The decision highlights that the application of sanctions law is likely to be fact specific. Further, a force majeure clause is unlikely to come to the rescue where the obligation to perform has already passed by the time that the force majeure event occurs.    FactsLitasco SA (“Litasco”)...
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