Energy Newsletter - June 2011

by King & Spalding
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In This Issue:

TRANSACTIONAL

Transactions

- LNG: From Niche Fuel to Regional Commodity?

The LNG trade has evolved over past years to become a crucial segment to many economies...

Project Development / Finance

- Middle East Update – A New Delivery Model for District Energy Projects: Public-Private-Partnerships

Public-Private-Partnerships have the potential to become the new standard for “District Energy” (centralized heating and cooling plant) deals in the Middle East. PPPs differ from traditional models in that a private sector partner undertakes to finance system expenses....

Corporate / London

- Will the UK Government’s Recent Increase in Tax on Oil Profits DeterInvestment in the UK North Sea?

The UK Government is dependent on continued investment from oil companies to ensure production from remaining North Sea reserves. That investment is threatened by an unexpected tax increase on North Sea production in the government’s 2011 Budget...

REGULATORY

Environmental Regulatory

- Hydraulic Fracturing: Federal Turf Battle Over EPA Draft Study Plan - Complication or Opportunity?

EPA’s study plan for evaluating the relationship between hydraulic fracturing and drinking water is receiving critical attention from its own Scientific Advisory Board, the Department of Energy, and Congress. The Department of Energy has also announced plans to conduct its own evaluations. These parallel processes offer the potential for conflicting results, but they also present operators with an opportunity to weigh in on the agencies’ efforts....

- UPDATE: United Kingdom Energy & Climate Change Committee Backs Development of UK Onshore Shale Gas Potential

UK shale gas industry receives a boost after the Energy & Climate Change Committee concludes a moratorium on fracking is unnecessary and finds no evidence that the process poses a risk to groundwater....

Antitrust

- Ofgem Proposes Radical Overhaul of UK Electricity and Gas Markets: “Energy Companies Have Failed to Play It Straight With Consumers”

UK energy regulator, Ofgem, has announced a series of reforms to force openelectricity and gas markets. They represent the government’s most significantattempts yet to encourage competition in these sectors....

DISPUTE RESOLUTION

International Arbitration

- Breaking New Ground: “Interim Measures” (Interim Relief) in International Arbitrations Involving Energy Investments

Various forms of interim relief issued by tribunals in recent years suggest that claimants in energy-related arbitrations should strongly consider whether their needs would be met by a well-developed interim measures request.

Business Litigation

- Avoiding Disruptive Minority Owners in the Purchase/Sale of an Energy Company

Larger companies or private equity groups often buy smaller companies by offering minority interests to owners. Buyers need to be wary of potential problems, especially when the new majority owner later decides to sell the purchased company...

Please see full newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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