Shearman And Sterling

Energy & Infrastructure Insight | Winter 2021 | Issue 5

November 04, 2021

Energy & Infrastructure Insight—Winter 2021—Issue 5

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ENERGY & INFRASTRUCTURE INSIGHT—WINTER 2021—ISSUE 5

We are delighted to bring you the fifth edition of our Energy & Infrastructure Insight, providing expert information and analysis of the current issues facing the energy and infrastructure sectors across the globe.

Energy transition is a pivotal global topic that has attracted widespread interest. In this latest edition, we provide a roadmap of the key European regulatory developments relevant to hydrogen in 2021. Hydrogen has clearly become central to the European Commission’s decarbonization agenda.

Carbon offset credits provide a credible method of lowering various sectors’ carbon footprints and achieving emissions reduction targets. We examine how carbon offset credits are issued for sale, and we review the various carbon offset projects that are available for credit purchasers.

On July 14, 2021, the European Commission published its proposal for a Carbon Border Adjustment Mechanism (CBAM), which will be phased in from 2023 and be fully operational in 2026. We describe how CBAM certificates will work, how they are designed to reduce carbon leakage and which sectors they will apply to. We also offer some insight into the expected avenues for appealing CBAM-related decisions.

We also look at the recent trend of courts within the EU—both at the EU and individual Member State levels—becoming increasingly assertive in adjudicating energy-related matters.

In the United States, we examine how offshore wind presents a significant opportunity for local economic growth and job creation. We also consider the new bipartisan Senate infrastructure bill that emphasizes reauthorization, research, resilience and reliability. If passed, this bill will provide more than $1 trillion in improvements to the nation’s physical infrastructure.

In Asia, we consider the challenges of cross-border renewable independent power projects. We also look at the changes to foreign ownership restrictions in the Philippines and the impact on the energy sector.

We hope you find our latest edition both interesting and informative. If you have any questions or would like to discuss any of the topics further, please get in touch with any of our contributors.

Special thanks to Yvonne Addai for her contribution to this publication.

Read “Energy & Infrastructure Insight—Winter 2021—Issue 5.”

Authors and Contributors

Ben Shorten

Partner

Project Development and Finance

+44 20 7655 5923

+44 20 7655 5923

London

Gregory Tan

Partner

Project Development and Finance

+1 212 848 8324

+1 212 848 8324

New York

Jean-Louis Neves Mandelli

Partner

Project Development and Finance

+65 6230 3834

+65 6230 3834

Singapore

Dan Feldman

Partner

Project Development and Finance

+971 2 410 8158

+971 2 410 8158

Abu Dhabi

Lachlan Poustie

Partner

Project Development and Finance

+33 1 53 89 70 80

+33 1 53 89 70 80

Paris

Alex Bevan

Partner

International Arbitration

+971 2 410 8121

+971 2 410 8121

+44 20 7655 5000

+44 20 7655 5000

Abu Dhabi

Garreth Wong

Partner

International Arbitration

+44 20 7655 5879

+44 20 7655 5879

London

Iain Elder

Partner

Project Development and Finance

+44 20 7655 5125

+44 20 7655 5125

+971 2 410 8100

+971 2 410 8100

London

David Clinch

Partner

Mergers & Acquisitions

+65 6230 3892

+65 6230 3892

Singapore

Jennifer Younan

Partner

International Arbitration

+33 1 53 89 48 04

+33 1 53 89 48 04

Paris

Patrick Wolff

Of Counsel

Mergers & Acquisitions

+49 89 23888 2145

+49 89 23888 2145

Munich

Colm Ó hUiginn

Counsel

Project Development and Finance

+44 20 7655 5683

+44 20 7655 5683

London

Joe Freeman

Counsel

Project Development and Finance

+65 6230 3865

+65 6230 3865

Elise Edson

Counsel

International Arbitration

+33 1 53 89 70 00

+33 1 53 89 70 00

Paris

Frederick Lazell

Associate

Project Development and Finance

+44 20 7655 5968

+44 20 7655 5968

London

Alastair Livesey

Senior Associate

International Arbitration

+44 20 7655 5530

+44 20 7655 5530

London

Chloe Vialard

Associate

International Arbitration

+65 6230 3854

+65 6230 3854

Singapore