简介
21世纪的前20年为能源行业带来了战略机遇的同时也带来了严峻的挑战。全球各地的能源企业均面临高度的不确定性,特别是根源于价格波动和风云变幻的地缘政治态势的不确定性。
较低的油价为石油生产商和持有石油资源的政府带来了挑战,但与此同时也提供了投资新下游市场(包括新兴经济体)的机会。日益提高的社会责任意识,推动了政府加大对可再生能源项目的资金扶持,并且催生了通过绿色债券获取融资的新渠道。对发电能力以及与之相应输电能力的持续需要和需求,继续全面推动全球多个市场电力行业的新增长。
谢尔曼•思特灵全球能源业务部是一支全业务、经验丰富的一体化运营团队。我们与客户配合,依托本所全所层面的经验,向客户提供覆盖广泛的法律和商业洞察,引导他们成功应对具有挑战性的交易和争议。与客户携手共谋发展,我们在全球和整个能源领域(石油天然气、传统发电、可再生能源及核电)向客户提供最前沿的意见和建议。
客户的上述需求涵盖了推动企业战略性增长的全方位的交易服务:项目融资、并购、资本市场及重组以及支持客户通过争议方式保护其价值(包括国际仲裁、商事诉讼及反垄断)。
经验
Oil & Gas
- Yukos Oil Company, Russia | Represented the majority shareholders in the former Yukos Oil Company in three arbitrations against the Russian Federation. Secured a US$50 billion arbitral award, the largest arbitral award ever rendered, plus 75% legal fees and 100% arbitration costs.
- Gas Price Review, Europe | Representation of a European energy company, seller in a long-term gas supply agreement, as Respondent in a gas price review arbitrationof brought by a European energy company (as buyer). ICC Rules. Algerian law. USD 1.3 billion at stake.
- ERC Mostorod Refinery, Egypt | Represented project sponsors and the project company on the US$3.7 billion development and financing of its refinery at Mostorod in Egypt, the largest-ever project financing in Africa.
- Sadara Petrochemicals Project, Saudi Arabia | Represented Dow Chemical Company in its joint venture with Saudi Aramco for the development of the $20 billion Sadara petrochemicals project. We also advised as co-counsel on the financing of the project.
- Shah Gas Field, UAE | Represented Abu Dhabi National Oil Company in its joint venture with Occidental to develop the Shah gas field in the south of the United Arab Emirates, together with a natural gas processing plant, new natural gas and liquid pipelines, and a railway.
- Dolphin Energy Limited, UAE | Represented Dolphin Energy Limited on its bond offerings in a combined amount of $1.3 billion.
- Sadara Integrated Chemicals Project, Saudi Arabia | The Dow Chemical Company as co-sponsor of this vast and complex project in a transaction which was awarded ‘Project Finance Deal of the Year’ 2013 at the IFLR Middle East Awards.
- World-First Petrochemicals-Supported Sukuk, Saudi Arabia | The Dow Chemical Company on Sadara's SAR7.5 billion (approx. US$2 billion) sukuk in Saudi Arabia as part of a uniquely complex US$20 billion project financing.
- Sadara – SAAC Saudi Kayan Butanol JV, Saudi Arabia | The Dow Chemical Company on Sadara’s joint venture with SAAC and Saudi Kayan to construct the largest butanol plant in the world.
- SABIC's Acquisition of GE Plastics | Advised Saudi Basic Industries Corporation on its US$11.6 billion acquisition of GE Plastics from General Electric Company.
- ABB Ltd | Advised ABB Ltd. in the sale of its upstream oil, gas and petrochemicals business to a consortium comprised of Candover Investments plc, JP Morgan Partners LLC and 3i Group plc.
- World's Largest Publicly Announced Arbitral Award | Secured a US$2.1 billion award for Dow Chemical in the ICC arbitration brought against a wholly owned subsidiary of Kuwait Petroleum Company, stemming from its withdrawal from a planned joint venture with Dow.
Nuclear
Project Development & Finance
- MENA Nuclear Project | Advising a state authority in the MENA region on the development and financing of a first-in-kind and first-in-country US$25 billion nuclear new build project and negotiating the EPC, Fuel Supply, O&M, and Radioactive Waste Treatment Contracts.
- Turkey Nuclear Project | Advising lenders in relation to the development and financing of a nuclear power project in Turkey
- UK Nuclear Power Project | Advising lenders in relation to the development and financing of a nuclear power project in the UK
- Nuclear Lending Guidelines | Advising a global financial institution on the development of guidelines for lending to nuclear sector projects, companies and transactions
- Middle East Nuclear Project | Advised the government-owned implementing company on the development of the country’s nuclear power programme, including drafting and negotiating to execution the multi-unit, multi-billion dollar EPC/Prime Contract
- Turkey Nuclear Project | Advised a sponsor in relation to the development of a nuclear power project in Turkey
- US Nuclear Project | Represented a nuclear reactor vendor on the development and establishment of its US nuclear business, including its commercial and licensing strategy
- US Nuclear Project | Advised a nuclear reactor vendor on the US Department of Energy loan guarantee application to assist with the financing of a proposed new nuclear power plant under the Energy Policy Act of 2005
- US Nuclear Project | Advised a US nuclear utility on drafting and strategic structuring of the US Department of Energy loan guarantee application to assist with financing of a proposed new nuclear power plant under the loan guarantee program. Also advised at the term sheet stage on the utility’s EPC contracts with multiple possible vendors in the context of its loan guarantee application
Mergers & Acquisitions
- European Nuclear Fuel Company Investment | Advised a nuclear industry company in an investment into a European fuel cycle company.
- US Nuclear Power Plant Purchase | Advised a US nuclear utility on the acquisition of a majority/whole ownership interest in two nuclear power plants, negotiating the purchase and sale agreement and all documentation necessary for the acquisition of the ownership interest
Joint Ventures and Commercial Transactions
- UK Nuclear Power Investment | Advised a nuclear industry investor with respect to investment in and development of a nuclear new build project in the United Kingdom and the establishment of a presence in the UK nuclear market, including matters of corporate law, taxation, employment law, nuclear liability, nuclear regulatory compliance and export controls
- US Nuclear Project | Represented a nuclear reactor vendor on the development and establishment of a joint venture with a US nuclear utility to construct two new nuclear power plants
- Nuclear Fuel Project | Advised a nuclear reactor vendor on the establishment of a joint venture for the development of an international nuclear fuel fabrication business
Government Nuclear Program Development
- Middle East Nuclear Power Program | Advised a government-owned implementing company on the drafting and reviewing of nuclear laws and regulations and advising on mechanisms to ensure the long-term sustainability of the program
- Middle East Nuclear Power Program | Advised a government-owned implementing company responsible for developing a new nuclear power program on technology selection, drafting the procurement arrangements, the EPC contract and the technology transfer agreement, and advising on the commercial aspects of the program
- Middle East Nuclear Power Program | Advised a government nuclear energy committee on the development of its nuclear power program, including the adoption of international treaties and conventions, drafting the national nuclear law and preparing for a site feasibility study
International Arbitration
- ICC Arbitration Over Nuclear Power Project | Representing a vendor in its dispute with a European utility company over the construction of a nuclear power plant in Europe
- International Arbitration | Represented a nuclear reactor vendor in a dispute with respect to technology IP rights and licensing matters
Capital Markets
- IPO and General Corporate Advice | Advising a leading nuclear utility on its potential IPO
Nuclear Liability
- Global Advice | Advised governments, owners/developers, investors, technology vendors, equipment suppliers and lenders on various aspects of nuclear liability in the United States, Japan, Russia, Turkey, United Kingdom, United Arab Emirates, Bahrain, South Africa, India, Brazil, Argentina, Mexico, China, Bulgaria, Finland, Belgium, Italy, Spain, Slovakia, Sweden, France, Ukraine, Kazakhstan, Canada, Taiwan and the Republic of Korea and in relation to the application of the Vienna Convention, Paris Convention, Joint Protocol and the Convention on Supplementary Compensation
Nuclear Export Controls
- Global Advice | Advised numerous entities on export controls applicable to their global nuclear trade, and export/import to/from Japan, China, United Arab Emirates, United Kingdom, United States, Sweden, Russia, France, United Arab Emirates and other countries in the Middle East
Nuclear Technology, Regulatory and Licensing
- Global Regulatory Study | Provided a research report for an ECA on international nuclear regulatory regimes, including the environmental impact assessment, licensing and permit process for new nuclear power plants, information disclosure systems and public participation in new nuclear power projects, as well as international and multinational treaties and conventions
- Global Emergency Response Study | On behalf of a nuclear reactor vendor, conducted a global comparative analysis of national nuclear emergency response systems
Tax
- US Nuclear Power Plant | Advised an equity investor and lessor on tax matters in the leveraged lease financing of a US Nuclear Power Plant
- US Nuclear Power Plant | Advised an equity investor and lessor on tax matters in the purchase of an undivided interest subject to a leveraged lease of a US Nuclear Power Plant
Renewable Energy
- First Wind Palouse and Route 66 Wind Projects | Advised First Wind Holdings Inc., the renewable-energy developer, in the sale of its majority stake in the Palouse project, a 105 MW wind farm located in Washington, and the Route 66 project, a 150 MW wind farm located in Texas, to J.P. Morgan Asset Management.
- Broken Bow II Wind Farm | Advised Citigroup Global Markets Inc., as placement agent and acted as counsel to the note purchasers, in connection with a private placement to finance Broken Bow II, a 75 MW wind power plant in Nebraska, indirectly owned by Sempra Energy.
- Sempra Copper Mountain Solar 2 and 3 | Advised the lead arrangers in the financing for the Sempra Copper Mountain Solar 2 project, which is an expansion of the Copper Mountain Solar 1 facility, one of the largest photovoltaic solar plants in the US. Subsequently advised the lead arrangers and collateral agent with the $435 million financing for the third phase of the Copper Mountain Solar complex.
- Sky Solar Holdings | Advised Sky Solar Holdings, Ltd. in connection with a registered public offering of American Depositary Shares on NASDAQ.
- Greenko Dutch | Advised Greenko Dutch B.V. in connection with a Rule 144A/Reg. S international offering of fixed rate high yield senior notes, guaranteed by Greenko Group plc.
- Public Power Corporation Finance | Advised Public Power Corporation Finance plc in connection with a Rule 144A/Reg. S. offering of fixed rate high yield senior notes guaranteed by Public Power Corporation S.A.
荣誉
Oil & Gas
- LOS RAMONES II (SUR) PIPELINE
- Latin America Downstream Oil & Gas Deal of the Year (2014) —IJ Global
- Project Finance Deal of the Year (2014) —Latin Lawyer
- Americas Oil & Gas Deal of the Year (2014) —Project Finance International
- Advised Credit Agricole Corporate and Investment Bank, Natixis, New York Branch, Sumitomo Mitsui Banking Corporation, Banco Nacional de Obras y Servicios Publicos, S.N.C., BBVA Bancomer, S.A., Institucion de Banca Multiple, Grupo Financiero BBVA Bancomer, Nacional Financiera, S.N.C., Institucion de Banca de Desarrollo and Mizuho Bank, Ltd., as lenders, in connection with the approximately $890 million senior secured financing related to the development, construction, operation and maintenance of the Los Ramones Sur gas transportation system, sponsored by Pemex and GDF Suez.
- SADARA PETROCHEMICALS PLANT | SAUDI ARABIA
- Project Finance Deal of the Year 2013 —International Financial Law Review
- Global Finance Deal of the Year: Project finance (Middle East) 2013 —American Lawyer Global Legal Awards
- Advised Dow Chemical on its joint venture with Saudi Aramco for the construction and operation of the US$20 billion Sadara Petrochemicals Plant that will produce a full range of basic chemicals and plastic derivatives, and advised as co-counsel on the financing of the project.
- ERC MOSTOROD REFINERY | EGYPT
- Overall Deal of the Year 2013 —Infrastructure Journal
- Oil & Gas Deal of the Year 2013 —Infrastructure Journal
- ECA-Backed Deal of the Year 2012 —Trade Finance magazine
- Middle East Petrochemical Deal of the Year 2012 —Project Finance International
- Project Finance Deal of the Year 2012 —International Financial Law Review
- Advised Citadel Capital as project sponsor and Egyptian Refining Company (Takrir) as project company in the $3.7 billion financing for the redevelopment of its refinery at Mostorod, Cairo, the largest project financing to date in Africa. The complex, multi-source, limited-recourse financing involved senior debt tranches from JBIC, NEXI, K-EXIM, EIB, AfDB and a syndicate of commercial banks, as well as mezzanine loans from Mitsui & Co and AfDB.
- TAMAR | ISRAEL
- EMEA Oil & Gas Deal of the Year 2012 —Project Finance magazine
- Middle East Energy Deal of the Year 2012 —Project Finance International
- Advised Barclays Capital and HSBC Bank Plc as lenders in the $430 million bridge loan to Israeli companies Delek Drilling, Avner Oil Exploration and Dor Gas to help the companies finance their share of exploration and development costs for the Tamar natural gas field off Israel’s northern coast.
Renewable Energy
- Sustainable Development Industry Law Firm of the Year (2014)—Acquisition International
- Best Renewable Energy Financing (2013)—Chaglla Hydropower Project—LatinFinance
- Latin American Renewables Deal of the Year (2013)—Chaglla Hydropower Project—Project Finance International
- African Wind Deal of the Year (2012)—Dorper Wind Project—Project Finance
- Middle East Renewables Deal of the Year (2012)—Foundation Wind I and II Projects—Project Finance
石油天然气
在今天原油价格持续大幅波动的困难环境下,石油天然气行业继续整合,寻找新的运营方式。本所在全球各主要市场均设有办事处,利用多年积累的广泛行业知识为石油天然气价值链(上游、中游和下游)上的所有方面提供帮助。我们代表政府、国内和国际石油公司、交易所、资金提供者和机构投资人经办部分全球最大的石油天然气项目,向其提供意见和建议。
我们在石油天然气领域的经验覆盖了这个产业的整个价值链,从勘探和生产(包括油田服务)到复杂的石化项目。本所交易业务律师为世界级规模的上游资产和基础设施的开发和出售提供意见和建议。我们是客户信赖的促成复杂的一体化项目(包括液化天然气、管道、炼化和石化项目)成功的法律顾问,这是因为我们对石油天然气整个价值链以及这个链条上各不同要素之间如何互动拥有深度的洞察力。
本所国际仲裁和诉讼律师在有关各类争议的国际仲裁和诉讼事项中作为法律顾问为客户提供意见和建议及出庭,此类事项包括稳定条款、税收、价格审核、合同撤销、产量分成协议、特许协议和不可抗力。此外,依托本所的全球化平台,我们还提供顶级的反垄断咨询。
电力
随着全球人口的增长、人们生活水平的提高和财富的增加以及相应的消费猛增,全球电力需求一直在以惊人的速度增长。
拥有多年积累的业务经验、对行业的理解和地区知识,本所跨专业的电力业务部经常经办电力行业规模最大、最复杂的项目、交易和争议。本所在全球经办的具有划时代意义的项目包括迄今为止规模最大的对一家美国能源公司的杠杆收购、印尼境内多个独立发电项目、中东北非地区若干独立海水淡化发电项目(其中包括该地第一个以小型永久性贷款(mini-perm loan)为基础设计架构的独立海水淡化发电项目以及迄今为止规模最大的私募组合投资收购中国境内电力项目的交易)。我们对电力行业商业需要的洞察力为我们在电力行业的仲裁工作提供了支持,在电力仲裁中,我们在整个发电和开发周期与客户合作。
可再生能源
越来越多的政府和能源公司希望以可再生能源技术(太阳能、风能、水电、地热、生物质能)来降低对化石燃料的依赖,提高其碳足迹。
我们在这一行业与各方面的客户合作,其中包括政府、开发商、私募股权基金及其他基金、资金提供者、运营商和机构投资者,为他们在这一行业的投资和争议提供意见和建议。另外,我们还是本行业关键发展动向的思想领袖,例如绿色债券、上网电价补贴、环境监管及投资协定仲裁。
从知识产权咨询和专利到私募股权及创业融资,从项目开发和政府激励措施到并购,我们向明天的企业和资本领袖提供这一充满活力的可持续性发展行业所有方面的专家指导意见。
氢能
谢尔曼•思特灵全球氢能法律团队在氢能产业价值链的所有方面均拥有深度经验,包括:
- 氢能技术、生产及下游转换
- 供应链和分销
- 融资、建设和开发
本所常驻纽约、休斯敦、东京、新加坡、伦敦、阿联酋和利亚德办事处的专业从事氢能业务的合伙人领导下的团队,是市场公认的从事项目、融资、并购和争议业务的顶级团队。本所在氢能领域拥有超一流的客户群,为国家石油公司、国际石油公司、贷款方、开发商、供应商、工程公司和承包商担任法律顾问。
另外,我们还为全球多个规模最大、结构最复杂的项目和交易提供法律咨询,其中包括即将投入建设的全球第一个绿色氢能超级项目。
核能
核能行业的客户需要谢尔曼•思特灵独家有能力提供的支持,那就是谢尔曼团队的律师们拥有的关于核能行业及核能法律的真正的知识、对核能技术的相关政治、技术和法律挑战的深度理解,以及只有核能行业的顶尖律师才能具有的视野。
谢尔曼•思特灵的综合服务核能业务部代表客户经办全球核能行业最重要、最复杂、属于该类别第一个的项目、交易及国际仲裁。我们为新的核能项目的建设和融资以及燃料合同带来具有创新性的、务实的、可获得银行融资的、达成交易的解决方案。
本所专攻核能业务的律师们,均为获得国际原子能机构及世界核协会认可的行业领袖,他们根据核能行业及本所客户群的地域覆盖,对应分布在全球各地。