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On 15 July 2024, “Regulation (EU) 2024/1787 of the European Parliament and of the Council of 13 June 2024 on the reduction of methane emissions in the energy sector and amending Regulation (EU) 2019/942” (the “EU Methane...more
Ukraine War contributes to substantial increase in U.S. LNG exports to Europe. Washington—Annual marketed production of natural gas increased in the United States to a record high in 2022...more
After Russia invaded Ukraine in February 2022, Western countries enacted a series of embargoes against Russian goods and raw materials, including natural gas and oil, that many did not think possible or implementable given...more
On 24 June 2024, the EU adopted its 14th package of sanctions against Russia. The latest measures include: The designation of 116 additional individuals and entities across a number of industries for their responsibility in...more
Australian Update - Australia and EU Enter Into Critical and Strategic Minerals Partnership - On 28 May 2024, Australia and the European Union (EU) signed a Memorandum of Understanding (MOU) for a bilateral partnership to...more
On 21 May 2024, the Council of the EU adopted the Hydrogen and Decarbonized Gas Market Package. It aims to shift the gas system to low-carbon and renewable gases, and provides for the highly anticipated framework on dedicated...more
The European Commission (EC) is in the process of implementing its “Union database” (UDB) to track all renewable gases and liquid fuels. Gases and fuels, whether produced in the EU or imported, will need to be registered in...more
Good morning! This is Akin’s newsletter on climate change policy and regulatory developments, providing information on major climate policy headlines from the past two weeks and forthcoming climate-related events and...more
On June 21, 2023, the General Court of the European Union rejected an action brought by a Member of the European Parliament (MEP) seeking to annul European Commission legislation that identified certain activities related to...more
We review the key events of 2022 in Nigeria’s energy sector – a year that saw significant steps in the implementation of PIA, intermittent M&A activity and the continuing effects of crude theft. We also consider what we can...more
As indicated in the previous edition of the Climate Report, on July 15, 2022, the European Union Official Journal published Commission Delegated Regulation (EU) of March 9, 2022. This new delegated regulation includes nuclear...more
Blasts were heard at the Nord Stream 1 pipeline last week, and damage to the pipeline itself was detected underwater shortly thereafter. Russian sources indicated that the damage would further delay the delivery of natural...more
EU Parliament and Council reach agreement on CSRD - European Parliament and European Council | 21 June 2022 - The European Parliament and European Council reached a provisional political agreement on the terms of the...more
To anticipate the risk of a complete halt, or further substantial reduction, of Russian gas supplies in the near future, Member States of the EU have agreed to reduce their gas consumption by 15% between 1 August 2022 and 31...more
In March 2022, the European Commission published "REPowerEU," a blueprint of its planned changes to the regulation of European Union energy markets in direct response to the Russian invasion of Ukraine in February 2022. At...more
On July 15, 2022, the European Union Official Journal published Commission Delegated Regulation (EU) of March 9, 2022. The new regulation implements European Regulation (EU) 2020/852 of June 18, 2020 (the "Taxonomy...more
The European Parliament has now "endorsed labeling some gas and nuclear energy projects as 'green.'" This designation will now enable these energy projects to have "access to hundreds of billions of euros in cheap loans and...more
European energy companies face unprecedented uncertainty as a result of Russia's invasion of Ukraine. A potential reduction or cessation of Russian gas imports is not unforeseeable and would invariably affect all market...more
Following Russia's actions in Ukraine, an energy crisis unfolds in Europe and particularly in Germany. The looming threat of Russia suspending gas deliveries to Germany, or Germany ending the procurement as part of a...more
On 23 March 2022, the European Commission (the Commission) adopted a Temporary Crisis Framework for State aid measures to support the economy following the invasion of Ukraine by Russia (the Temporary Crisis Framework), after...more
Two new developments of enormous significance passed under the radar last week, buried by the growing threat of an outright Russia/Ukraine war and governmental encroachment on democracy in Canada. These developments, however,...more
The Russian Federation’s intensifying war efforts across Ukraine prompted the U.S. government to announce that it will implement a ban on Russian oil and gas imports. Under the ban, the U.S. will not import “Russian crude oil...more
As of January 1, 2022, the first delegated acts adopted to supplement European Regulation (EU) 2020/852 of June 18, 2020 (the "Taxonomy Regulation") became applicable. The Taxonomy Regulation sets out a classification system...more
ANTITRUST AND COMPETITION - European Commission Blocks a Global Transaction Involving Two Leading South Korean Shipbuilders - On 12 November 2019, a South Korean leading shipbuilder (the Notifying Party) notified to the...more
The legal and political skirmishing continued on both sides of the Atlantic in recent weeks over Nord Stream 2, the nearly finished Russian natural gas pipeline that continues to serve as a flash point within Europe and...more