The first two decades of the 21st century have introduced both strategic opportunities and significant challenges for the energy sector. Industry players across the world are faced with high levels of uncertainty, notably stemming from price volatility and changing geopolitical dynamics.
Lower oil prices are causing challenges for producers and resource- holding governments but providing opportunities for investments in new downstream markets, including emerging economies. An increased awareness of social responsibility has led to an increase in government funding for renewable projects and new ways to access financing through green bonds. Continued need and demand for power generation, and corresponding transmission, generally continues to drive new growth in the power sector in many markets throughout the world.
Shearman & Sterling’s Global Energy Group is a full-service, experienced and integrated team. We work with clients to navigate challenging transactions and disputes by drawing on experience across the firm, providing wide-ranging legal and commercial insight. We partner with our clients to provide cutting-edge advice across the globe and the energy spectrum — oil and gas, conventional electricity generation, renewable energies and nuclear.
These needs include the full spectrum of transactional work that drives strategic growth: project finance, M&A, capital markets and restructuring as well as supporting clients to protect value through dispute work, including international arbitration, commercial litigation and antitrust.
Project Development & Finance
Mergers & Acquisitions
Joint Ventures and Commercial Transactions
Government Nuclear Program Development
Nuclear Export Controls
Nuclear Technology, Regulatory and Licensing
The oil and gas industry continues to consolidate and find new ways to operate in today's challenging oil price environment. Located in key markets worldwide, we apply our broad industry knowledge to assist in all aspects of the oil and gas value chain (upstream, midstream and downstream). We advise and represent governments, national and international oil companies, trading houses, financiers and institutional investors on some of the world's largest oil and gas matters.
Our experience in oil and gas spans the value chain, from exploration and production (including oil field services) to complex petrochemical projects. Our transactional lawyers advise on the development and sale of world-scale upstream assets and infrastructure. We are a trusted advisor on making complex integrated projects happen – including LNG, pipelines, refining and petrochemicals – because we have deep insight across the entire value chain and how different elements interact with each other.
Our international arbitration and litigation lawyers advise and appear as counsel in international arbitrations and litigation matters on a broad range of disputes, including on stabilization clauses, taxation, price review, contract cancellation, production-sharing agreements, concession agreements or force majeure. We are also able to provide leading antitrust advice from across our global platform.
As a consequence of the growth in world population, increased standards of living and wealth, as well as the related surge in consumption, global demand for power has been rising at a spectacular pace.
With decades of experience, industry understanding and regional knowledge, our multidisciplinary Power Group regularly advises on the largest, most complex projects, transactions and disputes in the sector. Our worldwide groundbreaking projects include work on the largest LBO of a U.S. energy company, multiple IPPs in Indonesia, several MENA IWPPs — including the first one in the region to be structured on the basis of a mini-perm loan — and the largest private portfolio acquisition of power projects in China. Our insight into the commercial imperatives of the power industry supports our work in power sector arbitration, where we work with clients across both the generation mix and development cycle.
Governments and energy companies are increasingly looking to renewable energy technologies (solar, wind, hydropower, geothermal, biomass) to reduce reliance on fossil fuels and improve their carbon footprint.
We work with a range of clients including governments, developers, private equity and other funds, financiers, operators and institutional investors on their investments and disputes in this sector. We are also thought leaders on key developments in the industry — such as green bonds, feed-in tariffs, environmental regulation and investment treaty arbitration.
From IP counseling and patents to private equity and venture finance, and from project development and government incentives to mergers and acquisitions, we provide tomorrow’s corporate and capital leaders with expert guidance across all aspects of the dynamic sustainable development sector.
Our renewable energy clients have access to market-leading resources from across the firm — Project Development & Finance, Real Estate, Environmental, Investment Funds, Capital Markets, Mergers & Acquisitions, Tax, Litigation and International Arbitration — leveraging knowledge and experience from across a wide spectrum of renewable resource sectors.
Shearman & Sterling’s Global Hydrogen legal team has deep experience in all aspects of the hydrogen value chain, including:
Our dedicated partner-led teams based in New York, Houston, Tokyo, Seoul, Singapore, London, the UAE, and Riyadh, are top-tier ranked for projects, financing, M&A and disputes. We have a premier client list in the hydrogen sector, and are advisers to NOCs, IOCs, lenders, developers, technology suppliers, engineering companies and contractors.
We are also advisers on the largest and most complex projects and transactions, including the world’s first green hydrogen megaproject, about to commence construction.
Clients in the nuclear energy sector demand the support that Shearman & Sterling is uniquely placed to provide – genuine knowledge of the nuclear industry and nuclear law, deep understanding of the associated political, technical and legal challenges of nuclear technology, and the vision that only nuclear lawyers who are leaders of this sector can bring.
Shearman & Sterling’s full-service nuclear practice advises clients on the most significant, complicated and first-of-a-kind projects, transactions and international arbitrations in the global nuclear sector. We bring innovative, practical, bankable and deal-making solutions to the construction and financing of new nuclear projects and fuel contracts.
Our dedicated nuclear lawyers, who are recognized industry leaders by the International Atomic Energy Agency and the World Nuclear Association, are located across the world, providing the geographic reach reflective of the nuclear energy sector and our client base.