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Energy Arbitration

Energy Arbitration

"Team of stellar individuals with expertise in the fields of energy and natural resources, as well as construction and IP disputes."
Chambers Global, 2016

We have extensive experience across the energy sector, including oil & gas matters (upstream and downstream), nuclear power, hydroelectric power, and renewable energy, in which we have acted for multinational corporations, Sovereign States and State-owned companies. We often appear in disputes concerning, inter alia, issues of consortium and joint-venture relations, contract cancellations and terminations, construction of power plants, price review, tax treatment and stabilization. We are also recognized as a market leader on the Energy Charter Treaty (see our investment arbitration experience). Current and recent cases handled by Shearman & Sterling’s international arbitration group include the representation of:

  • Five gas importers as Respondents in SCC and UNCITRAL arbitrations in Stockholm initiated by an upstream supplier. The disputes arise from a gas price revision clause in long-term supply contracts. Swedish law applies.
  • Sonatrach as Respondent in an ICC arbitration in Geneva initiated by  Total Algérie SAS and Repsol Exploración Argelia.  The dispute is in relation to the interpretation of contractual provisions of a production sharing agreement regarding windfall profit tax and alleged tax stabilization provisions. Over USD 400 million is at stake. Algerian law applies.
  • Nine Asian Independent Power Producers (IPPs) as Claimants in an LCIA arbitration seated in London against a State-owned entity. The dispute arises out the non-payment of certain amounts under Power Purchase Agreements concluded between the IPPs and a State-owned entity. The law of the Respondent’s State applies.
  • A European energy company, seller in a long-term gas supply agreement, as Respondent in a gas price review arbitration brought by another European energy company (as buyer). Algerian law applies. Over USD 1.1 billion is at stake.
  • Egyptian Natural Gas Holding Company (EGAS) and Egyptian General Petroleum Corporation (EGPC) as Respondents in an ICC arbitration in Geneva brought by East Mediterranean Gas S.A.E. (EMG), arising out of a long term gas supply contract between EGAS, EGPC and EMG.
  • An African energy company as Respondent in an ICC arbitration in Geneva initiated by three foreign partners in relation to the performance of a production-sharing agreement. The law of the Respondent's State applied.
  • The Republic of Lithuania as Claimant in an SCC arbitration in Stockholm against Gazprom, in relation to Gazprom’s obligations to supply gas based on fair prices under the Share Sale and Purchase Agreement between Lithuania and Gazprom as well as Gazprom’s breaches of its obligations under the Shareholders’ Agreement, resulting in overpayments in excess of EUR 1.54 billion.
  • A European energy company and its Central European affiliate as Respondents in an ICC arbitration in Paris initiated by a Southeastern Europe energy company. The dispute arose from an agreement for the privatization of a State-owned electricity company. The law of the Claimant’s State applied.
  • A Southeast Asian State-owned company as Respondent in an ICC arbitration in Singapore initiated by three European and Australasian energy companies. The dispute arose from a production-sharing agreement.
  • An African State-owned energy producer as Respondent in an UNCITRAL arbitration in Geneva initiated by the African subsidiary of a large North American energy company. The dispute arose from an unitization agreement in relation to a petroleum field. The law of the Respondent's State applied. Hundreds of millions of US dollars were at stake.
  • The African subsidiary of a European energy company in an ICC arbitration in Paris against an African State. The dispute related to local tax claims.
  • An Egyptian State-owned entity in an ICC arbitration in Stockholm arising from an oil concession. Egyptian law applied.
  • Subsidiaries of a leading European renewable energy company as Claimants in an ICC arbitration initiated against a Latin American energy company in relation to the sale of a wind farm project in Latin America. The seat of the arbitration was Montevideo, Uruguay, and Argentine law applied.
  • A North African energy company as Respondent in an UNCITRAL arbitration in Geneva initiated by two large energy companies. The dispute was in relation to the interpretation of contractual provisions regarding future taxes imposed on the foreign partner and tax stabilization provisions in the context of a production sharing contract. Over 11 billion US dollars was at stake. A settlement was achieved.
  • The African subsidiary of a major European energy company as Claimant in an ad hoc arbitration in Paris against an African State. The dispute concerned the treatment of decommissioning costs for existing fields (whether inshore or offshore), and more specifically whether these costs constituted petroleum costs to be shared among the parties under the production-sharing agreement and whether monies should be set aside in order to cover those future expenses.
  • A West African energy company as Respondent in an UNCITRAL arbitration in Geneva initiated by a European energy company. The dispute arose from the revision of a price formula in two long term contracts for the sales of liquefied natural gas. English law applied and the language of the proceedings was English.

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