Full Description
This book examines the spectrum of risks posed to the development, financing, construction and operation of trans-boundary energy infrastructure and the tools that may be deployed to manage these risks.
The book begins by examining trends in trans-boundary energy infrastructure and the nature of the risks - non-technical, technical and financing - which infrastructure development projects and existing operations must anticipate and manage. Individual categories of intergovernmental and host government risk will be viewed from the perspectives of leading international experts. These risks, and the tools applied to manage them, will also be viewed from the different viewpoints of the state and private sector counterparties, lenders, affected communities and other interested third parties, such as indigenous communities, individual landowners and the non-governmental organisations that typically represent their interests.
Against a backdrop of global energy supply/demand dislocations, fragility in the global financial markets, increasing awareness of the impact of projects on individuals, communities and the environment (especially in the wake of the recent BP disaster in the Gulf of Mexico), and medium to longer-term concerns about security of supply and climate change, it is increasingly clear that the bandwidth of risks which infrastructure developers, operators and their advisers now need to be aware of is becoming much broader.
Contents
Executive summary 5
Introduction 13
Thomas J Dimitroff
Infrastructure Development Partnership LLP
Part 1: Macro-considerations
Macro-risks after the panic of 2008 17
Kevin Gardiner
Barclays Wealth
Political risk in large projects 33
Arve Thorvik
Thorvik International Consulting
Part 2: Cross-border dimensions
Multilateral and bilateral investment agreements 51
Tom Cummins
Ronnie King
Ashurst LLP
Intergovernmental agreements 73
Katie Baehl
R Coleson Bruce
George F Goolsby
Baker Botts LLP
Trans-boundary energy projects and maritime transport risk 91
Glen Plant
Legal consultant
Cross-border regulatory risk: the EU exemption regime 129
Leigh Hancher
Allen & Overy LLP
Part 3: Host state perspectives
Host government agreements: the investor perspective 145
Charles Lindsay
Allen & Overy LLP
Tax risks 159
Stuart F Schaffer
Baker Botts LLP
A host state perspective on risk 173
Judith H Kim
Geoffrey Picton-Turbervill
Ashurst LLP
Part 4: The investor and other stakeholder perspectives
Joint venture risks and responsibilities 183
Thomas J Dimitroff
Infrastructure Development Partnership LLP
Project finance and risk mitigation 201
William E Browning
Infrastructure Development Partnership LLP
Alexandre Chavarot
William J Clinton Foundation
Technical and operational risk 221
Deborah L Grubbe
Operations and Safety Solutions, LLC
Holistic project management and risk 229
William E Browning
Yashar Latifov
Infrastructure Development Partnership LLP
A strategic approach to environmental and social impact assessments 239
David Blatchford
Martin Lednor
Infrastructure Development Partnership LLP
Security risk management 257
Anthony FS Ling
LPD Strategic Risk Ltd
Risk, project-affected communities and their land 273
Henry Thompson
Oxania Ltd
About the authors 295
