September, 2013

On Friday, 6 September 2013, the ELG held the Third Biennial Energy Event at the Schonbrunn Palace Conference Centre in Vienna, Austria. 

This Energy Event, which follows the first two Energy Events at the Abbaye des Vaux de Cernay, near Paris, France in 2009 and 2011, was a private conference attended by leading figures in the European and international energy sector, invited by the members of the Energy Law Group, together with many leading energy lawyers from independent law firms, all members of the Energy Law Group.

Key workshop topics for the Third Energy Event included Financing Energy Infrastructure; Unconventional Gas; European Energy Security; The future of Nuclear Energy; Renewable Energy and Transmission and Distribution Networks.

OPENING

  • Welcome: Peter Polak, Fiebinger Polak Leon Attorneys-at-Law, Austria
  • Chairman’s opening address: Thierry Lauriol, Jeantet Associés, France, Chairman of the ELG
  • Keynote speech: Dirk Buschle, Legal Counsel and Deputy Director, Energy Community Secretariat, Vienna
  • Introduction to workshops: Alex McLean, Arthur Cox, Ireland

 

WORKSHOP 1: BANKABILITY

This workshop covered hot bankability topics, matters and specific case studies, including the Egyptian Refining Company hydrocracking refinery project, some specific issues that have come up in relation to financing off-take arrangements, a particular focus on project bonds, a look at the interaction between high-yield bonds and bank debt in upstream oil and gas, as well as a very topical piece on regulatory developments in the financial sector.

Chair: Alexander Rang, Hengeler Mueller, Germany
Rapporteur: Alexander Rang, Hengeler Mueller, Germany

  • Structuring projects in challenging circumstances: a case study of the Egyptian Refining Company’s hydrocracking refinery project: James Wyatt, Slaughter and May, England
  • Structuring Bankable Product Offtake Arrangements: Stephen Bedwood, Head of Power and Oil & Gas, Europe & Sub-Saharan Africa, HSBC Bank plc
  • Financial collateral arrangements: the benefits of using Luxembourg-based project structures: David Maria, Wildgen, Luxembourg
  • Infrastructure finance in the EU, focussing on typical risk allocation and innovative setups (including project bonds): Pierre-Emmanuel Noel, Lecturer at SciencesPo Paris
  • The interaction between high yield bonds and bank debt in upstream Oil & Gas: Christophe Roux, Head of Reserve Based Finance EMEA & CIS, Société Générale
  • Regulatory developments in the financial sector: the impact on the financing of energy projects: Alexander Rang, Hengeler Mueller, Germany
  • International standards and local perspectives regarding collaterals in project finance transactions in Bosnia. Negotiation and implementation of direct agreements in Bosnia and Western Balkans: Stevan Dimitrijević, Karanovic & Nikolic, Bosnia and Herzegovina

 

WORKSHOP 2: THE SHALE GAS REVOLUTION

The morning session was a series of individual country studies from a variety of jurisdictions in Europe — The United Kingdom, Bulgaria, Lithuania, Romania and Poland —, which focused on their particular experience and how the debate is developing in such countries.

The afternoon session was a much broader session. We were fortunate to be joined by Robert Jeffries, from Environ, to provide an environmental perspective on the development of the sector. Then, a presentation about the legal regulatory overview of the Europe-wide development of shale gas was made.

Chair: Krzysztof Cichocki, Partner, Sołtysiński, Kawecki & Szlęzak, Poland
Rapporteur: Bernard Deltour, Partner, Liedekerke, Belgium

  • Country Report – United Kingdom: Stephen Trombala, Shepherd and Wedderburn, Scotland
  • Country Report – Bulgaria: Milan Pandev and Anton Krustev, Djingov, Gouginski, Kyutchukov & Velitchkov, Bulgaria
  • Country Report – Lithuania: Dovile Greblikiene, LAWIN, Lithuania
  • Country Report – Romania: Ruxandra Bologa, Nestor Nestor Diculescu Kingston Petersen, Romania
  • Country Report – Poland: Krzysztof Cichocki, Sołtysiński, Kawecki & Szlęzak, Poland
  • Shale Gas Operations in the Field – An Environmental Consultancy’s Viewpoint: Rob Jeffries and Rob Jones, BA MAppSc, ENVIRON
  • EU perspective – existing and prospective legislation: Bernard Deltour, Liedekerke, Belgium

 

WORKSHOP 3: SOUTH AND EAST MEDITERRANEAN HYDROCARBON ISSUES

The morning session of this workshop was focused on a couple of very new interesting emerging markets, in particular Cyprus and Lebanon. Eminent external speakers as the President of the Petroleum Industry of Lebanon and the Deputy Director of Energy services, from the Ministry of commerce, trade and tourism of Cyprus made their input.

The afternoon session included several presentations on more established market in North Africa, particularly covering Egypt, Algeria, Morocco and Tunisia.

Chair: Sultan Al Abdulla, Sultan Al-Abdulla & Partners, Qatar
Rapporteur: Sultan Al Abdulla, Sultan Al-Abdulla & Partners, Qatar

  • Cyprus Offshore Gas Prospects: Andrew Demetriou, Ioannides Demetriou LLC, Cyprus
  • Lebanon´s Offshore Hydrocarbons Sector: Fadi Moghaizel, Moghaizel Law Office, Lebanon
  • Comments on Cyprus Offshore Gas Prospects: Deputy Director of Energy services, from the Ministry of commerce, trade and tourism of Cyprus
  • Comments on Lebanon Hydrocarbons Sector: President of the Petroleum Authority of Lebanon
  • Gas Supply and What it Means for the Future of the Power Industry in Egypt: Aly Shalakany, Shalakany Law Office, Egypt
  • Trends in the Hydrocarbons Sector in Algeria, Morocco and Tunisia: John Picarel and Olivia Woodroffe, Jeantet Associés, France

 

WORKSHOP 4: RENEWABLE ENERGY

This workshop firstly focused on the regulatory issues as regards renewable energy. An eminent external speaker kindly offered to assist in this workshop: Marie Donnelly, Director of New and Renewable Sources of Energy, in the European Commission.

This workshop also focused on the industry and technology specific issues on which several industry speakers made presentations: Dr Haris Boko, Chief Counsel, Energy Institute Hrvoje Požar, Croatia talked about facilitating renewables penetration in Europe and made a particular focus on issues such a grid development; Mr Arni Magnússon, Head of Energy at Mannvit, discussed about geothermal energy; and Rodolfo Danielli, Chairman and CEO of Futuris, talked about biomass gas.

Chair: Alex McLean, Arthur Cox, Ireland
Rapporteur: Anne Kirkegaard, Gorrissen Federspiel, Denmark

  • Overview of the EU Policy Framework set out in the RED: Odd-Harald Wassenden, Wiersholm, Norway
  • Support schemes under RED, NREAP overview and progress to date, by country and technology: Dinka Kovačević, Žurić i Partneri, Croatia
  • Commission Perspective on the promotion of renewable energy to date in Europe, key challenges and opportunities for the future and insights in relation to European policy beyond 2020: Mrs Marie Donnelly, Director New and Renewable Sources of Energy, Energy Efficiency & Innovation, DG Energy
  • Presentation on renewable energy in South America: Paulo Weyland Vieira/Daniela Ribeiro Davila from the law firm Vieira Rezende, Brazil
  • Facilitating increased renewable penetration on grids, including smarter grids, fast response technologies, storage technologies and provision of different system services: Dr Haris Boko, Chief Counsel, Energy Institute Hrvoje Požar, Croatia
  • Technology Spotlight: Geothermal: Mr. Arni Magnússon, Head of Energy, Mannvit Iceland‘s largest engineering firm
  • Technology Spotlight: Biomass/Biogas: Rodolfo Danielli, Chairman and CEO of Futuris SpA

 

WORKSHOP 5: ELECTRICITY AND GAS TRANSMISSION NETWORKS AND CERTIFICATION

This final workshop comprised both a legal and a regulatory aspect.

The morning session focused on the legal perspective, highlighting what has been done in terms of certifications in some parts of Europe and what needs to be done in others. In the afternoon, Mr Walter Boltz, the Executive Director of E-Control and Vice-Chairman of the Board of regulation of Acer, and Dirk Buschle, Legal Counsel and Deputy Director, Energy Community Secretariat, Vienna, presented the topic from a regulator’s perspective.

Chair: Milos Vučković, Karanovic & Nikolic, Serbia: General Presentation
Rapporteurs: Juan I. González Ruiz, Uría Menéndez, Spain and Marina Kolia, Zepos & Yannopoulos, Greece

  • Principles of Certification of Transmission System Operators in EU according to EU-Commission Opinions: Thomas Starlinger, Fiebinger Polak Leon Attorneys-at-Law, Austria
  • Electricity and Gas Transmission Networks and Certification in Non-EU Countries: Ms. Alketa Uruçi, partner at Boga & Associates law office
  • Unbundling: Status and Consequences: DI Walter Boltz, Executive Director, E-Control, Vice Chairman, Board of Regulations (ACER)
  • Liberalization- regulation and certification of TSOs within the Energy Charter Area from the viewpoint of the Secretariat: Dirk Buschle, Legal Counsel and Deputy Director, Energy Community Secretariat
  • Comments by ELG member: Gordon Downie, Shepherd and Wedderburn, Scotland

 

FINAL PLENARY SESSION

  • Rapporteur Workshop 1: Alexander Rang, Hengeler Mueller, Germany
  • Rapporteur Workshop 2: Bernard Deltour, Partner, Liedekerke, Belgium
  • Rapporteur Workshop 3: Sultan Al Abdulla, Sultan Al-Abdulla & Partners, Qatar
  • Rapporteur Workshop 4: Anne Kirkegaard, Gorrissen Federspiel, Denmark
  • Rapporteurs Workshop 5: Juan I. González Ruiz, Uría Menéndez, Spain and Marina Kolia, Zepos & Yannopoulos, Greece