In June 2017, the Japan Fair Trade Commission (JFTC) issued its conclusion on an earlier market study on liquefied natural gas (LNG) resale restrictions and cautioned that (i) destination clauses, (ii) diversion clauses, (iii) profit-sharing clauses and (iv) take-or-pay clauses in LNG sale contracts may fall afoul of the country’s antimonopoly laws.
(Houston) – On June 14, Akin Gump lawyers held the firm’s semiannual energy briefing in its Houston office, with guests in attendance at the event as well as via webinar around the world.
(Houston) – Lawyers and advisors at Akin Gump held a briefing today, titled “The Global Energy Industry: A Look to the Year Ahead in 2017,” addressing some of the big issues likely to affect the global energy industry in the coming year. The event was held as an in-person briefing in the firm’s Houston office and as a webinar for participants around the world.
(Houston) – Akin Gump is pleased to announce it has released its “2015 Energy Year in Review,” which examines the current state of the global energy market and highlights the energy matters with which the firm was involved last year in the following areas:
- financial restructuring
- capital markets
- project development and project finance
- energy regulation, markets and enforcement
- energy litigation and international arbitration.
For liquefield natural gas (LNG) suppliers or purchasers following the travails of the oil markets and wishing to reduce the tie-in of LNG prices to oil indexes (a particular issue in Asia), the relatively recent addition of the Singapore SLInG (Singapore Exchange LNG Index Group) spot index may be a useful tool. The SLInG, which shares the name of Singapore’s most famous drink, is quoted free-on-board offshore Singapore, relying primarily on the quantity of LNG carried via the Strait of Malacca and/or the South China Sea past Singapore waters, rather than on the much smaller volumes actually offloaded or stored there.
The Wall Street Journal article “African Consumer Spending Expected to Double by 2020,” looks at opportunities for the U.S. business community to greatly expand investment in Africa. The article cites a comprehensive report on investing in Africa that was released this week in connection with the U.S.-Africa Leaders Summit. The report is titled Africa and the United States: A defining relationship of the 21st century, produced by the U.S. Chamber of Commerce and Investec Asset Management.
Akin Gump associate Carl Fleming’s ongoing work on Power Africa is featured in the report among other Africa experts. His section called “Spotlight on Electrify Africa Act” discusses the potential impact of Power Africa and the pending legislation on investment on the continent. In particular, he outlines the way in which the Electrify Africa Act, passed by the U.S. House of Representatives in May would help U.S. investors and redefine “how certain US agencies do business in Africa,” among them the Millennium Challenge Corporation, the U.S. Agency for International Development, the Treasury Department and the Overseas Private Investment Corporation.
Fleming presented an overview of the U.S.-Africa Leaders Summit, an introduction to Power Africa and an update on the pending legislation, including the recent introduction of the Energize Africa Act, in this July 31 post.
(Houston, Washington and New York) – Today, members of Akin Gump’s global energy and transactions group provided a briefing for members of the media that included a look forward to U.S. and global trends in energy production in 2014.
The panel comprised energy regulation, markets and enforcement practice co-head Suedeen Kelly, energy partner Stephen Davis, London partner and Moscow partner in charge Sebastian Rice, global project finance practice co-head Adam Umanoff and financial restructuring partner Ira Dizengoff. The briefing was moderated by Rick Burdick, chair of the firm’s global energy and transactions group.
Ms. Kelly discussed distributed generation (DG)—“electric generation that’s connected to the distribution system as opposed to the transmission system,” in her definition, based in small generators typically but not exclusively owned by electric customers rather than utilities. She noted that it has the potential to be a game-changer for the electric industry, taking market share away from traditional electric utilities. She pointed to five factors driving DG’s growth: its affordability, customer empowerment, reliability, environment and efficiency, and new market opportunities in the face of stagnant electricity demand.
December 2013 will mark the first “anniversary month” of the antidumping (AD) and countervailing duty (CVD) orders on Chinese-origin crystalline silicon photovoltaic (PV) cells, whether or not assembled into modules. The U.S. Department of Commerce (DOC) imposed the orders following AD/CVD investigations conducted as a result of petitions filed by SolarWorld Industries America Inc. (“SolarWorld”). During the anniversary month, interested parties will have the opportunity to request DOC to conduct administrative reviews of the AD/CVD orders to determine the actual duties to be collected on PV cells that have been imported under the order.
The AD/CVD orders are among the largest by value that the United States has ever imposed, covering billions of dollars’ worth of imports annually. The upcoming administrative reviews, coupled with significant disputes over the scope of products covered by the orders, are creating uncertainty for both foreign producers and exporters as well as for U.S. importers and purchasers of these products. This uncertainty is exacerbated by ongoing settlement discussions between the United States and China.