Akin Gump Hosts Media Briefing on 2014 U.S. and Global Energy Trends and Prospects

Dec 4, 2013

Reading Time : 2 min

Mr. Davis spoke about the growth of the United States as an energy exporter, mentioning the exportation of natural gas by pipeline, compressed natural gas, coal and gas-to-liquids. He  spotlighted trends in the exporting of liquefied natural gas, petroleum products (primarily gasoline, jet fuel and diesel), liquefied petroleum gases (primarily propane and butane) and crude oil, while noting that there is debate regarding the security considerations of the exportation of oil by the United States.

Mr. Rice discussed the increase in opportunities in West African energy, especially Nigeria, Gabon and Ghana, which produce roughly one third of Africa’s output.  As major international oil companies (IOCs) continue to invest actively in the region, the years ahead are expected to be a transformative period for its oil and gas market.  However, he noted that IOCs face risks and challenges, including political instability, significant security concerns, corruption and underdeveloped infrastructure and services in the region.

Mr. Umanoff outlined prospects for domestic renewable energy (primarily wind and solar) over the medium term, observing that “the landscape is changing.”  He noted that the growth of the wind market has been substantial—over 60,000 MWs in cumulative capacity or “over one fifth of the world capacity for installed wind”—driven by policy support, notably the federal production tax credit. However, uncertainty on a policy level has diminished growth in 2013.  By contrast, solar has seen steady growth in each of its three sectors—residential, commercial and utility.  However, low power prices and cheap natural gas threaten the continued growth of renewable energy.

Mr. Dizengoff noted the number of energy sector chapter 11 filings in 2013 and identified among the contributing factors cheap and abundant natural gas, environmental compliance costs and government promotion of renewable technologies.  He also spotlighted tax sharing agreements as a notable feature complicating energy company restructurings in 2013, noting Edison Mission Energy and Energy Future Holdings as two case studies in this regard.

A copy of the briefing notes is available here, and a link to the full audio of the briefing can be found here.

# # #

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.

 

Share This Insight

Categories

© 2024 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.