Energy
OCS’ energy practice represents Hess Corporation and its affiliates in the negotiation of long-term wholesale energy trading agreements and retail supply agreements. We have expertise in documentation of crude oil, petroleum, natural gas and electricity transactions, as well as in the growing area of renewable energy products. We also have extensive experience in negotiation of credit support documentation for trading in these volatile markets. Through negotiations against most major participants in these industries, our attorneys have developed keen awareness of market standards and developing trends. This allows us to give informed advice on the increasingly complex area of legal risk assessment and control. Our team strives to develop in-depth knowledge of client business goals and management structure, allowing us to make legal decisions from the client’s perspective. We understand that effective representation of client interests means working closely with our client’s internal credit, tax, compliance, legal and business professionals. Our focus on energy trading also prepares us to offer real-time guidance when decisions have to be made instantly.
Our attorneys have extensive experience with agreements related to both domestic and foreign energy trading, including:
- NAESB master agreement (including the Collateral Support Addendum)
- EEI master agreement
- LEAP master agreement
- ISDA North American Gas Annex
- ISDA North American Power Annex
- ISDA European Gas Annex
- ISDA U.S. Crude Oil and Refined Petroleum Products Annex and Confirmation
- EFET Master Agreements (including CSA, NBP, ZBT and TTF Annexes)
Services provided include:
- Negotiating master trading agreements for energy commodities.
- Drafting and revising standard templates for documenting energy trading transactions.
- Negotiating security agreements, guaranties and letters of credit.
- Conducting risk analyses for participation in wholesale and retail RFPs.
- Advising on novel legal issues arising in master agreement negotiations.
- Advising on legal developments in the energy industry.
- Providing guidance in connection with entering into new energy trading platforms.
- Reviewing and advising on asset management arrangements.
- Reviewing and advising on energy conversion agreements and tolling agreements.
