The global energy transition has given rise to major innovations in sustainability solutions and an evolving energy mix. Businesses and governments are also now prioritizing environmental, social and governance (ESG), climate change and cleantech considerations in the face of increasing worldwide demand for energy. These groundbreaking developments are creating opportunities, upending business models and posing new challenges.
- Representing a leading oilfield services company focused on low-carbon and carbon-neutral energy technologies in several projects, including its:
- Joint venture to develop a groundbreaking bioenergy with a carbon capture and sequestration (CCUS) project designed to produce carbon negative power in Mendota, California, and qualify for the Section 45Q tax credit.
- Investment and collaboration agreement to deploy nickel-hydrogen battery technology across selected global markets.
- Joint venture agreement to create a geothermal project development company.
- Advised J-Power (Electric Power Development Co. Ltd) in its world’s first A$496 million project to produce hydrogen from Australia’s vast brown coal reserves in the Latrobe Valley in the province of Victoria.
- Advised on restructurings of oil and gas companies with late-life assets where creditors and debtors worked to implement solutions to decommissioning liabilities, including through innovative mergers and acquisition (M&A) solutions and end-of-life service structures and negotiations with decommissioning regulators.
- Represented participants in structuring and participating in some of the world’s first carbon-neutral energy transactions.
- Advised a marine contractor on regulatory and contractual arrangements with respect to a bespoke decommissioning solution.
Entrenched in the Energy Industry
For more than 75 years, Akin Gump has been a leading advisor to companies across the entire energy value chain, providing counsel through every market cycle, opportunity and challenge. As the energy sector has evolved, we have evolved with it, creating innovative solutions to help our clients grow their businesses and mitigate risks.
With established practices in oil and gas and renewable energy, our interdisciplinary team serves as trusted counsel for the energy transition. Our lawyers have worked on some of the industry’s most transformative transactions and helped bring new, sustainable energy sources to emerging markets.
Our global, cross-practice team includes leading advisors across the firm’s project finance and development, regulatory, public law and policy, climate change and sustainability, environmental, tax and corporate practices.
Our industry-leading tax team helps market participants seamlessly navigate the intricacies of tax credits including Section 45Q, low-carbon fuel standards (LCFS) and renewable identification numbers (RINs). Within our ranks are also seasoned projects lawyers with deep experience in emerging financing models, including public-private partnerships. Further, our renowned policy practice includes many former members of Congress and regulators. These lawyers and advisors help clients navigate the key regulatory and policy issues facing CCUS, hydrogen and other sustainable projects in markets around the world.
Diverse Client Base
Our clients include traditional oil and gas companies, renewable energy companies, utilities, service providers, multinational conglomerates, growth companies, financial institutions, investment funds and sponsors, sovereign entities and other stakeholders.
For our hydrocarbon clients, our work includes representing them in transactions as they diversify into the renewables space, incorporate low-carbon and carbon-neutral energy technologies into their business models, and aim to achieve environmentally sustainable and socially conscious benchmarks in their operations.
We also assist investment funds and sponsors focusing on clean energy, startups capitalizing on the green revolution, service providers seeing increasingly complex projects and entities pushing for reform on the policy front.
Full Suite of Energy Transition Services
Akin Gump advises on all facets of the energy transition. We have industry-leading experience with all of the key sustainable technologies that are powering the transition, including:
- Carbon capture, utilization and storage (CCUS)
- Hydrogen and ammonia
- Battery storage
- Lithium extraction
- Geothermal energy.
Our lawyers also have extensive experience in decommissioning oil and gas and coal assets across Africa, Asia, Australia, Europe and the United States, and are thought leaders in the area.
Further, we are doing precedent-setting work in the nascent carbon-neutral or “green” liquefied natural gas (LNG) market. We help clients reduce or offset greenhouse gas (GHG) emissions associated with the LNG value chain—from upstream gas production and pipeline transportation to liquefaction, ocean transport, regasification and downstream use of the natural gas.