Oil and Gas transportation
By Dimitrios Arvanitis and Minli Tang
On April 23rd, The City Law School’s (TCLS) Oil and Gas Law Research Group (OGLRG) successfully hosted a seminar examining the ‘Legal and Commercial Challenges in the Transportation of Oil and Gas’. The event was held in AG21 of the College Building.
Sponsored by Thenamaris and supported by the Greek Energy Forum and Cheniere Energy Inc., the event was chaired by Professor of Commercial and Maritime Law, Professor Jason Chuah. Mr Thanasis Rousopoulos, General Counsel of Thenamaris, and Mr George Kokotis, Senior Portfolio Manager of Cheniere and Head of the Commercial Focus Group of the Greek Energy Forum were the two featured speakers.
Mr. Rousopoulos’ presentation was about complex international litigation and enforcement. This was illustrated by a case he recently handled which bore out the complexities found in commercial shipping practice. The presentation also demonstrated that real-world problems can also present academic challenges. He said this was why academia and the market should work hand in hand to resolve common challenges, rather than isolate themselves from each other. Mr Kokotis dealt with the current demand for and supply of Liquified Natural Gas (LNG) and the challenges faced in LNG transportation and shipping. He outlined the LNG industry ‘big picture’ and focused on specific aspects of the LNG operation and supply chain. His analysis was primarily focused on the American gas market.
He addressed the unique factors giving rise to the US shale gas revolution and why other major energy players are unlikely to benefit from these factors. Mr Kokotis drew attention to certain peculiarities in the shipping of gas such as the fact that it evaporates during this mode of transportation and that the cargo itself can be also used as fuel for the ship. He also mentioned recent shipping technology innovations which are reshaping the industry.
Unsurprisingly, a discussion took place about the prospects for oil prices and oil’s influence on the LNG market. The event was well attended by students as well as business professionals and lawyers from the industry. In the Q&A session, both speakers received active feedback and questions from the floor. At the end of the seminar, a drinks reception, sponsored by Thenamaris, gave the attendees a further opportunity for interactive conversation and networking.
About The City Law School Oil and Gas Law Research Group (OGLRG)
The seminar examining the ‘Legal and Commercial Challenges in the Transportation of Oil and Gas’ was the first in a thematic series on oil and gas law to be organised by the OGLRG. Coordinated by Professor Chuah and PhD students, Dimitrios Arvanitis and Minli Tang, the Group welcomes contributions from all current students and alumni for the promotion of research and insights into the oil and gas industry.
The Group’s work is centred on the commercial legal challenges faced by the oil and gas industry with full consideration of the legislative, policy and regulatory developments underpinning them. The Group comprises academics and researchers at City and sets out to establish close cooperation with the industry and energy sector law firms. The activities of the Group (which will soon have its dedicated City web page) can be followed on Facebook and Linkedin.
Oil and Gas Law has developed around the three “streams” of business; upstream, or the E&P business, or the exploration for and production of oil and gas; midstream, or the gathering, processing, storing, transporting and marketing of produced oil and gas; and downstream, or the refining of crude oil and the selling and ultimate distribution of natural gas and products derived from crude oil. Oil and Gas Law is the body of law that organizes the discovery, development, allocation, ownership, management and use of oil and natural gas as energy sources.This branch of law refers to the constellation of statutory, regulatory and judicial law that applies to the three streams of the oil and gas business.