The U.S. and the UK moved quickly to prohibit the import of Russian LNG into their territories, but did not pass sanctions against the transportation of Russian LNG to other territories. Similarly, while the U.S. placed asset freeze sanctions on new Russian LNG projects such as the Arctic LNG 2 project, existing LNG infrastructure in Russia was not designated.
Continue Reading LNG sanctions on Russia – A fluid landscape

International obligations: climate change

At a United Nations climate conference in late 2023, participants championed the successes of climate commitments in previous years. Nevertheless, there was consensus that not enough action has occurred to enable participants to meet the goals of the Paris Agreement in 20151. This agreement set ambitious goals relating to

The world economy is shifting towards clean renewable energy sources, particularly offshore wind projects. This presents a significant investment opportunity for those interested in associated shipping assets. Here are some important reasons to consider joint ventures and investments in this sector.
Continue Reading The answer is investing in the wind – Joint ventures in offshore wind

After several years of very low activity in the mobile offshore rig market, green shoots of growth are starting to appear. Clients in all areas of the market, including owners, charterers and builders of both rigs and drillships have reported increased activity and appetite for investment.

While many are still evaluating the costs and benefits of re-commissioning assets that have spent long periods in stack (whether cold, warm or smart) or buying on the secondary market, we are seeing more interest in newbuildings (albeit at a very early stage) than has been the case for many years.

In view of this renewed optimism, here are some points to bear in mind when preparing your next mobile rig newbuilding contract, drawing on some of the lessons learned from the widespread litigation that flowed from the oil crash:

1) Beware the ghosts of contracts past
Continue Reading Mobile rig newbuildings – pre-contract checklist