Alongside opportunities to work on headline-grabbing, meaningful deals, the sector provides fantastic international opportunities. With a diverse range of work, the energy sector is not one to be overlooked.
What is Energy Law?
Energy lawyers are responsible for the facilitation of key transactions in the sector, from the procurement of fossil fuels to the sale of solar farms. Lawyers in the sector must also guide clients through the strict national and international regulations that govern the industry.
What Sectors Does Energy Law Cover?
- Contract
- Litigation
- Commercial
- Compliance
- Corporate finance
- International arbitration
- M&A
What is Special About Energy Law?
Due to the sector’s highly international nature, excellent knowledge of international current affairs is of fundamental importance. Unlike other areas of law, much of the work in the energy sector is contingent on international relations, so an interest in politics would be beneficial. For instance, Russia has recently been subject to allegations of constricting the supply of gas to Europe to slow down the economic response to COVID-19.
Energy law client engagements are often long term. While M&A transactions may only last a few months, longer development projects can sometimes span several years. This offers a rare opportunity to follow projects from inception, to completion, and eventually to their decommissioning.
The sector is also transitioning. Unlike other areas of law such as real estate and corporate finance, which have operated in the same way for decades, the energy sector is undergoing radical change: oil and gas is on the way out and the number of renewable energy projects is skyrocketing. This offers an exciting opportunity to pioneer.
Why Lawyers Choose Energy Law?
International Outlook:
As energy sources are primarily outside of the UK, energy law is a highly international practice area. The sector offers great opportunities for international travel and to work with a broad range of individuals from different countries.
Cross-border work is also challenging, something many energy lawyers describe as intellectually stimulating. Dealing with matters in a range of jurisdictions requires energy lawyers to constantly update their knowledge.
Meaningful Work:
Lawyers in the energy sector are often motivated by a desire to mitigate climate change. By advising clients on their divestment in fossil fuels and investment in renewables, lawyers are contributing to the global effort to decarbonise.
Work in the energy sector is also rewarding as it provides essential services to developing countries. Many firms, such as Pinsent Masons, are setting up offices in Africa, where investment in renewables is increasing dramatically.
Headline Grabbing Deals:
As climate change progresses, there is increasing interest in the deals that are being negotiated by oil giants such as a Chevron and BP. For those looking to work on large deals that feature in the news, energy might be a great option.
What Does an Energy Lawyer Do?
Energy lawyers may be required to advise clients during large procurement transactions, to handle the taxation of energy, to secure licences for energy generation, and to purchase ownership rights over important oil fields.
How is Climate Change Affecting the Work of an Energy Lawyer?
Historically, the majority of work carried out by energy lawyers has been helping clients to buy and sell fossil fuels or navigate strict environmental regulations. However, climate change is forcing the sector to adapt. Increasingly, lawyers are advising clients on the procurement of renewable energy technologies and are acting to help their clients transition to net-zero.
Top Energy Law Firms
Oil and Gas:
- Vinson and Elkins
- Baker Botts
- Kirkland and Ellis
- Latham and Watkins
- Norton Rose Fulbright
- Bracewell
Renewables and Clean Technology:
- Orrick
- Latham and Watkins
- Norton Rose Fulbright
- Milbank
- Vinson and Elkins
- Sidley Austin
By Will Turnbull
