HOUSTON, April 17, 2013 /PRNewswire/ -- The unprecedented global growth of natural gas is changing the energy climate, creating ripple effects that are shifting the geopolitical relationships between the U.S., Middle East, Russia, Japan and China, a panel of global LNG lawyers from Baker Botts said today.
"The advent of shale and other unconventional natural gas and oil supplies represents a once-in-a-generation sea change," said Steven Miles, energy sector chair and head of the firm's LNG practice. "As natural gas has become ubiquitous, the number of countries importing liquefied natural gas (LNG) has doubled in the last five years. It has opened the industry up to a broad array of new players, creating a liquid, even vibrant, secondary market for LNG."
The broad panel of firm lawyers who gathered for a roundtable event at the LNG 17 International Conference and Exhibition, noted that the wide availability of and demand for natural gas has attracted an extensive range of producers, financers, exporters and other players seeking to capitalize on the trend. The panel noted that navigating unfamiliar legal and cultural norms in some gas-rich areas, however, can be challenging.
Panelists also noted that natural gas is playing a critical role in helping countries reduce their carbon emissions from energy, which they anticipate contributing to the continued growth in demand for natural gas and LNG. In total, eight Baker Botts partners participated in the event including Steven Miles, Mark Rowley, Russell Wilkinson, Tom Moore, Kevin Keenan, John White, Sean Korney and Jason Bennett. Links to a special Baker Botts Q&A series on global LNG issues are at the end of this news release.
Baker Botts' LNG practice began in the early 1970s with its involvement in developing the Bontang LNG project in East Kalimantan, Indonesia. It has grown to include dozens of projects in the United States and around the world, including several benchmark-setting projects, such as the first LNG project in South America, the first LNG project in Equatorial Guinea, the first project to deliver LNG to the West coast of North America and the first U.S. import terminal selling LNG competitively in U.S. markets. Baker Botts lawyers have advised on more than 120 significant LNG transactions in more than 30 countries.
More information about the Baker Botts LNG practice is available here.
About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 173-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit www.bakerbotts.com.