Speaking Energy

Yesterday (1 Feb 2023) marked the launch by the European Commission (EC) of the Green Deal Industrial Plan for the Net Zero Age. Its introduction is aimed at a levelling up of the international playing field and combatting what the EC believes are market distortions arising from aggressive subsidy regimes being introduced ‘elsewhere’. The key concern for the EC is clearly a flight of capital and resource to the United States (US) following the introduction of the formidable Inflation Reduction Act, and this is its answer.

Overview

Since providing our overview of the emerging hydrogen economy back in December 2019 and April 2020 and our commentary on the role of hydrogen in achieving Singapore’s net-zero ambitions in August 2021 and April 2022, hydrogen has continued to enjoy unprecedented political and business momentum, but the extent to which blue and/or green hydrogen (collectively “low carbon hydrogen”) will be the key to unlocking the energy transition is still a matter for debate. It is without doubt however that low carbon hydrogen will have a role to play.

We are pleased to share a recording of Akin Gump’s annual energy briefing that took place last week, along with the presentation materials and information on ESG legal developments and disclosure frameworks.

We are pleased to share a recording of Akin Gump’s recent webinar, “Tumultuous Markets Part 2: Mitigating Risk in International Energy, Construction and Private Equity.”

(Houston) – Akin Gump is pleased to announce it has released its “2019 Energy Year in Review,” which examines the current state of the global energy market and highlights the energy matters with which the firm was involved last year across the following areas:

Introduction

The worldwide demand for energy continues to grow at a substantial rate. The World Economic Forum predicts that by 2050, global energy demand will be between 30 to 40 percent higher than today, even on the assumption that the world becomes much more energy efficient¹. At present, the majority of the energy sources the world depends on release greenhouse gas emissions, particularly carbon dioxide, into the atmosphere.

Throughout the energy sector, companies rely on aluminum and steel imports for infrastructure and development projects. In 2018, the cost of those materials increased when President Trump imposed tariffs on aluminum and steel imports based on a finding that they threaten to impair national security. In a recent decision concerning steel imports from Turkey, the U.S. Court of International Trade confirmed that the President must follow specific statutory procedures before imposing tariffs on the basis of supposed threats to national security.

Last month over 35,000 participants attended the Gastech 2019 Conference, the world’s largest gas and LNG conference, in Houston, Texas. Members of Akin Gump Strauss Hauer & Feld LLP’s global energy and transactions team attended Gastech and wanted to share the following observations: