Energy and natural resources in Russia
Baker Botts L.L.P.
Baker Botts L.L.P. fields a strong team of energy and projects specialists who are regularly instructed on the most significant mandates for industry powerhouses such as Rosneft, Novatek, Gazprom and Gazprombank. The practice is also able to draw on the firm's international network of offices to advise on cross-border transactions. Areas of product expertise include LNG, petrochemicals, minerals, shale and nuclear power, as well as traditional oil and gas. Key figures in the team include Maxim Levinson, Mikhail Semyonov and Konstantin Litvinenko.
Kuwait Petroleum Corporation
Rosneft Oil Company
- Advising Novatek on various corporate and financial matters in relation to the Yamal LNG project, such as amendments to the existing shareholders’ agreement on the expansion of the existing LNG facility by a fourth LNG train based on Novatek’s proprietary natural gas liquefaction technology.
- Advising Rosneft on the establishment of a joint venture with General Electric, focusing on the development of various innovative digital solutions and services at Rosneft’s facilities.
- Advising Rosneft on the acquisition of a 30% stake in the Shorouk concession comprised of the Zohr gas field offshore Egypt, the largest natural gas field in the Mediterranean.
Herbert Smith Freehills
Herbert Smith Freehills continues to be one of the pre-eminent practices in the energy, oil and gas, and natural resources field. Oleg Konnov, Alexei Roudiak and Olga Davydava lead the practice, focusing on cross-border corporate transactions and project finance, respectively. The team has recently won new mandates, including advising Raiffeisenbank on a €100m syndicated facility agreement with a subsidiary of the Ural Mining and Metallurgical Company, and advising CNODC Dawn Light, a subsidiary of CNPC, on its acquisition of a 10% stake in the Arctic LNG 2 project from Novatek. Danila Logofet specialises in downstream project development in the Asia-Russia and CIS investment corridor, while Vadim Panin advises lenders and borrowers on secured and unsecured bilateral and syndicated loans.
Nord Stream AG and Nord Stream 2 AG
Gazprom and its subsidiaries
United Capital Partners
Silk Road Fund
PW Power Systems
- Advising Enel in connection with the disposal of one of its core electricity generating assets, Reftinskaya GRES, located in the Sverdlovsk region of Russia.
- Advising a subsidiary of China National Oil and Gas Exploration and Development Company on the acquisition of a 10% stake in the Arctic LNG 2 project from Novatek’s subsidiary.
- Acting for the project company, Gazprom Pererabotka Blagoveshchensk, on the construction, procurement and financing of the €19bn Amur Gas Processing Plant in East Siberia, a key part of the programme to export Russian gas to China.
Morgan, Lewis & Bockius LLP fields a highly skilled team of Russian, US and UK-qualified lawyers, with notable experience advising on major multi-jurisdictional M&A transactions, joint ventures, project development and financings across the power, oil and gas, mining and natural resources sectors. Jonathan Hines chairs the CIS-wide energy practice and has significant expertise in projects across Russia, Ukraine, Kazakhstan, Azerbaijan and Turkmenistan. Grigory Marinichev represents international lenders and borrowers in structured finance, syndicated lending and debt restructuring transactions. Alexander Marchenko is another figure to note for upstream oil and gas projects. Cross-border energy transactions specialist Jennifer Josefson joined the team from King & Spalding LLP in November 2019.
China National Petroleum Corporation (CNPC)
State Oil Company of Azerbaijan (SOCAR)
- Advising Oil India and a consortium of India’s other leading state-owned oil companies on the intended acquisition from Rosneft of a strategic minority stake in a number of large oilfields in the Vankor cluster located in the Krasnoyarsk region.
- Advised Natixis on a $250m pre-export finance facility for Russian Copper Company, the third largest Russian copper producer.
- Advised Euro-Asian Oil on a pre-export finance facility for Karazhanbasmunai, a major Kazakh oil and gas producer.
ALRUD Law Firm's full-service energy practice is headed by the 'very pragmatic and commercial' Andrey Zharskiy, with senior associate and 'outstanding up-and-comer' Timur Akhundov focusing on regulatory issues, investment and project development in the energy and mining sectors. The firm is a popular choice for inbound and outbound Chinese investors, with clients such as China National Gold Group, ZPEC and China Silver Group.
‘The practice’s extensive knowledge and experience make it one of the leaders in the market. Good co-ordination within the team allows it to address matters quickly and to stay in direct contact with the client. As a full-service law firm, ALRUD is also noteworthy for its ability to involve lawyers from other departments in clients’ matters, which allows it to reach outstanding results.’
‘Andrey Zharskiy has extensive experience in energy and natural resources as well as related practices. He is very pragmatic and very commercial, always striving to give efficient advice.’
‘Timur Akhundov has an excellent understanding of the client’s needs and works remarkably well alongside Zharkiy, as well as being an outstanding up-and-comer in the energy field.’
China National Gold Group
Great Dyke Investments
South Ural Mining and Processing Company
- Advising China National Gold Group on a gold mining project, including regulatory and licensing issues related to the exploration and production of gold.
- Advised Tata Power as an investor in a coal mining project in the Russian Far East.
- Advised Nabors Industries, a global drilling contractor, on the acquisition of Tesco Corporation, a leading global provider of technology-based solutions for the drilling, servicing and completion of wells.
Bryan Cave Leighton Paisner (Russia) LLP's Moscow office has substantially expanded its capabilities with the lateral hires of Aydin Jebrailov and Levon Kocharyan from Norton Rose Fulbright, as the heads of the energy and natural resources and mining and infrastructure departments, respectively. Jebrailov has a 'very well-established reputation in the oil and gas market', where he advises on all aspects of negotiating, structuring and financing subsoil operations in Russia. As an expert in the mining and natural resources sector, Kocharyan has substantial experience assisting oil and gas companies with setting up and supervising operations in Russia, the corporate structuring of mining and energy projects through M&A transactions, and obtaining and transferring mineral licences, among other matters. Other key figures include Matvey Kaploukhiy, Anton Panchenkov, Anton Sitnikov and litigator Yury Babichev.
Siberian Generating Company
Kopy Goldfields AB
- Advised Kuzbassenergo, a subsidiary of Siberian Generating Company, on the acquisition of Reftinskaya GRES, a thermal coal-fired power plant, from Enel Russia.
- Advised Kopy Goldfields, a Swedish gold exploration company, on the sale of its subsidiary Taiga, which holds several exploration and production licences in the Irkutsk region.
- Representing RusHydro in a complex investment arbitration brought against the Kyrgyz Republic for the recovery of $40m in costs for the construction and operation of the Upper-Naryn hydroelectric power plants.
Natalya Kozyrenko leads the energy practice at CMS and specialises in advising on international oil and gas M&A transactions and joint ventures, from the initial stages of exploration and production to processing. Other areas of expertise include LNG projects, platforms, pipelines, floating production storage and offloading, shipping and transportation, decommissioning and financings.
- Advising Rosneft and Beijing Gas on setting up a joint venture to develop a network of compressed natural gas (CNG) fuelling stations.
- Assisted Vestas, a wind turbine supplier for the largest Russian wind park, with the drafting and negotiation of a supply agreement and with setting up local production of blades to comply with localisation requirements.
Dentons' Moscow office was bolstered by the arrival of Konstantin Kroll, the former head of Russia and CIS at Orrick, Herrington & Sutcliffe (Europe) LLP, in July 2019. Kroll's practice covers M&A, joint ventures, debt and equity capital markets transactions, structured and project finance, and arbitration in the sector. The firm remains highly active in nationally significant projects across the CIS region. Recent mandates include advising Resero Power on the structuring and financing of waste-to-power plants in Kazakhstan and Uzbekistan. Alexei Zakharko heads the energy practice.
- Advising Gazprom on a joint venture with Shell for the construction and operation of an LNG terminal in the Leningrad region.
- Acting for Severstal in a judicial action against the European Commission seeking the annulment of a regulation imposing anti-dumping duties on imports of cold-rolled flat steel from Russia and China.
- Advising United Green on the structuring and acquisition of ready-to-build PV solar projects in Ukraine, and the financing of the construction of a PV solar project in Kazakhstan.
Freshfields Bruckhaus Deringer
The team at Linklaters is headed by Grigory Gadzhiev, who specialises in corporate, finance and securities transactions in the oil and gas and electricity sectors. Project finance counsel Julia Voskoboinikova acts for sponsors and lenders on all aspects of PPP/concession projects at federal and regional levels.
Norton Rose Fulbright remains highly active advising on the market's most significant upstream oil and gas joint ventures, such as advising Shell on the acquisition of a 50% stake in Meretoyahaneftegaz from Gazprom Neft. The firm also has a prominent natural resources and oil and gas trade finance practice, assisting Rosneft, Gazprom Neft and other natural resources companies with commodity financings and oil supply arrangements. Anatoly Andriash leads the practice, which includes Julian Traill and Alexander Tsakoev.
Rosneft Oil Company
BP Exploration Operating Company Limited
- Advising Shell on the acquisition of a 50% stake in Meretoyahaneftegaz from Gazprom Neft to form a new joint venture which will further develop the Tazovskoye and Meretoyakhinskoye gas and condensate fields, as well as others in Western Siberia.
- Advised IRC, the largest producer of industrial commodities in the Far East of Russia, and, in respect of certain facility-related matters, Petropavlovsk plc on a financing of up to $240m to be extended to the Kimkano-Sutarsky Mining and Beneficiation Plant.
- Advised Lukoil as guarantor and Lukoil Overseas Uzbekistan as borrower on a $660m financing to fund the construction of a gas processing complex in Uzbekistan in connection with the development of the Kandym gas fields.
White & Case LLC's energy practice predominantly focuses on advising international banks and well-known players in the energy and natural resources industries on project financings, capital markets transactions and M&A deals, supported by its network of partners in the Kazakhstan, London and New York offices. The firm is also experienced in advising on US and EU sanctions. Key figures include Ekaterina Logvinova, who is an expert in the mining sector with a focus on pre-export and project finance; project finance partner Natalia Nikitina; and practice head Igor Ostapets.
Nord Stream AG
Resource Capital Fund
- Advised 13 major global banks, co-ordinated by UniCredit Bank and Raiffeisenbank, in their role as lenders on a new $820m unsecured finance facility provided to EuroChem Group.
- Advised a syndicate of banks, including Credit Suisse and JPMorgan as joint global co-ordinators and joint bookrunners, and others on the $3bn initial public offering of Kazatomprom.
- Advised Tenaris, a global manufacturer and supplier of steel pipes, on the establishment of a joint venture with Severstal, a vertically integrated steel and steel-related mining company, for the production of welded pipes for the oil and gas industry.
Akin Gump Strauss Hauer & Feld LLP advises Russian and international energy companies on all phases of their business, from capital markets and financial transactions to joint ventures, M&A and large-scale project development across the CIS region. Managing partner Natalia Baratiants specialises in high-value domestic and international corporate transactions, strategic alliances and joint ventures.
- Advising Lukoil on a number of engineering, procurement and construction (EPC) agreements with two major international contractors, KT-Kinetics Technology and McDermott, for the construction of a number of facilities on Lukoil’s oil refinery sites.
- Advised Lukoil, as guarantor, and Lukoil Overseas Uzbekistan, as borrower, on a $660m financing to fund the construction of a gas processing complex in Uzbekistan in connection with the development of the Kandym gas fields.
With a strong focus on transactional side, Baker & McKenzie - CIS, Limited's energy practice, which is led by Alexey Frolov, specialises in advising Russian and international companies on the acquisition of oil, gas and mining assets, corporate restructurings, joint ventures and production sharing agreements. The team also assists oil and gas companies with all other matters relating to their activities, including subsoil licensing regulation, compliance and dispute resolution.
Gazprom Neft, Gazprom
Alliance Mining Group /Russian Platinum
- Acted as part of a multi-jurisdictional team to advise Alliance Altyn on attracting a $180m project financing from VTB Bank for the construction of mining facilities and a processing plant at Jerooy gold deposit in the Kyrgyz Republic.
- Advising Severstal, the leading Russian metals and mineral resources conglomerate, on preparing model contracts for certain investment projects.
- Advising Gazprom Neft on the establishment of an upstream joint venture with a foreign investor for the exploration and development of oil and gas fields in Eastern Siberia.
Banking and finance partner Victoria Bortkevicha leads the department at Clifford Chance, specialising in trade and project finance, pre-export and import finance, and asset finance in the oil and gas sector. The full-service firm also offers complementary expertise in construction, capital markets transactions, corporate and M&A work, and dispute resolution.
Sakhalin-1 consortium members (Exxon Neftegaz, Sakhalin Oil and Gas Development Co. and ONGC Videsh)
Baikal Mining Company
- Advising Baikal Mining Company on the construction of a copper mining plant.
- Represented Sakhalin-1 consortium members Exxon Neftegas and Sakhalin Oil and Gas Development Company in the arbitration court of the Sakhalin region in a dispute with Rosneft regarding subsoil use in Sakhalin.
Debevoise & Plimpton LLPs' Moscow and London offices work as an integrated multi-disciplinary group to provide legal assistance on upstream and downstream, onshore and offshore oil and gas projects. Core areas of expertise include advising on production sharing agreements, the structuring of M&A and joint ventures for oil and gas projects, and corporate governance, capital markets and financings. Managing partner Alan Kartashkin co-heads the firm's global mining practice and counts leading Russian metals and mining companies such as Norilsk Nickel, Polyus and Uralkali among his clients. Natalia Drebezgina is also of note for M&A and capital markets transactions.
- Advising Polyus on its debut $150m pre-export financing with Société Générale.
- Alongside the London office, advised the principal shareholder of Polyus on the sale through an accelerated bookbuild of approximately 5.13 million ordinary shares in the form of global depositary receipts and ordinary shares of Polyus.
- Advised N-Mining on the sale of a large Russian gold exploration project to Kinross Gold Corporation.
Dechert Russia LLC's team, led by Laura Brank, advises on upstream, midstream and downstream oil and gas operations. In the power sector, the practice advises on EPC contracts, offtake agreements and various supply-side contracts, as well as on the financing of captive power plants and the sale of shares in energy companies. Brank's practice focuses on cross-border M&A, joint ventures, and debt and equity financing transactions.
The team at DLA Piper is led by Feruz Fidaev, who specialises in project finance and acquisition finance in the field of oil and gas. He frequently advises foreign clients on investing in Russia and Central Asia, as well as on M&A, joint ventures, and share and asset purchase transactions.
Integrated Energy Systems Limited
Allen & Overy Legal Services
At Allen & Overy Legal Services, managing partner Anton Konnov and Bulat Zhambalnimbuev, who made partner in May 2019, act alongside their London-based colleagues on cross-border M&A, projects and financing transactions in the energy and natural resources sector.
- Advised Deutsche Bank, ING Bank and UniCredit, backed by Korean export credit agency K-Sure, in connection with a loan facility to Lukoil group for the purposes of the engineering and construction of a gas processing complex for the development of the Kandym group of fields in Uzbekistan.
- Advising Rosatom on consortium arrangements with respect to the MBIR project.
Ivanyan and Partners fields a strong multi-disciplinary team which advises on the full gamut of energy-related transactions and project development, ranging from drafting and negotiating production sharing agreements and EPC contracts to project financing, corporate transactions and the resolution of disputes. Key figure Maria Miroshnikova 'shows a very pragmatic, hands-on approach and good understanding of the industrial dimension of matters'. Sergey Kushnarenko and Yuri Arkhipov are also recommended.
‘The team consists of lawyers from several practices which makes them capable of seeing complex projects from different perspectives.’
‘Maria Miroshnikova is a top-level corporate lawyer, strategist and project leader. She works with passion and shows a very pragmatic, hands-on approach and good understanding of the industrial dimension of matters.’
‘Yuri Arkhipov is truly proficient in all oil and gas-related legal matters and in very specific technical issues. He is very focused, well organised and deeply involved in our business. He knows our needs well and gives advice which is always relevant.’
- Advised Gazprombank and VEB.RF, as lenders, on a secured syndicated loan of approximately $220m to Shchekinoazot, one of the leaders in the Russian chemical market.
- Advising on a large gas project in Uzbekistan for the exploration of a gas field, further production under the terms of a production sharing agreement, and the construction of a gas chemical complex.
- Advising a private Russian investment group on a $2.1bn project for the potential construction of a trans-shipment terminal in the Russian Far East.
Latham & Watkins LLP continues to be involved in high-end M&A transactions in the energy sector, such as advising a potential buyer of a stake in the Arctic 2 LNG project. Alexander Gomonov handles local and cross-border acquisitions, disposals and joint ventures in the energy and mining sectors. He is also experienced in assisting companies and executives with a range of regulatory, compliance and general corporate law matters. Banking partner Ragnar Johannesen is the other key figure in the practice.
- Advising Rusatom, as sponsor, on the project financing of the Hanhikivi nuclear power plant in Finland.
- Advising Gazprombank in connection with the sale of Gazprom shares worth more than $2.2bn.
- Advised Credit Suisse and Société Générale, as mandated lead arrangers, on a prepayment facility of up to $500m for Kazakhmys Group, a major Kazakh copper producer.
Pepeliaev Group assists domestic clients in the energy, oil and gas, and mining sectors on all legal issues arising in the course of the development of offshore fields, including contractual work, taxation and audits, and dispute resolution. Sergey Pepeliaev is a specialist in tax issues in the energy sector, while Natalia Stenina focuses on investment projects and structuring transactions in the real estate sector throughout the CIS region.
BKE Shelf Ltd
LLC Zarubezhneft-Dobycha Kharyaga
PJSC Gazprom Zakupki
- Advised Zarubezhneft on the acquisition of a mid-size oil and gas company which owns the rights to oil fields located in the Saratov region.
- Assisted Gazprom Zakupki with a number of corporate transactions, contractual agreements and procurement matters in respect of its subsidiaries.
- Advising Rosshelf, a Russian company involved in the development of the continental shelf, on various corporate, project development and procurement matters relating to the construction of complex marine facilities for offshore field development.
Egorov Puginsky Afanasiev & Partners has a strong offering in the settlement of disputes and regulatory issues in the energy, oil and gas, and natural resources sectors. The firm has niche expertise in the heat energy sector, regularly assisting in the operations of electricity grid companies and in the sales of energy assets. On the regulatory side, the team is also experienced in advising on environmental issues and compliance with legislation concerning natural resources, subsoil, forest reserves and the continental shelf. Taras Rabko and Ivan Smirnov are the key contacts in the Moscow and St Petersburg offices, respectively.
Solntse Mexico/Mission Foods
- Representing Solntse Mexico in a dispute with the grid company over recovering the cost of non-contractual consumption of electric energy.
Best known for its strength in tax advisory, FBK Legal's team, led by Nadezhda Orlova, focuses on tax structuring and litigation, M&A transactions, investment into energy-related construction projects, and general corporate law matters.
Gazprom and its subsidiaries
Rosatom and its subsidiaries
Transneft and subsidiaries
- Advising Moldovagaz on the model of separation of gas producing, trading and transmission to comply with the requirements of the EU’s Third Energy Package and national legislation of the Republic of Moldova.
- Providing ongoing support to Gazprom on various corporate matters related to the Power of Siberia project.
- Acting for petroleum company Tekhneftivest in 12 claims and in a dispute with the environmental prosecutor.
Nortia GKS assists in investment transactions, the construction, reconstruction and maintenance of production facilities, M&A and due diligence in the energy sector. Vladimir Smolyarzh and Denis Gudkov are the key lawyers in the team.
MRTS Pacific PTE LTD
Streicher RUS LLC
- Advising on the acquisition by Astra Shipping of the dredger for the construction of a gas pipeline from Global Shipping.
- Advising MRTS Maritime Projects on the negotiation and execution of the contract and subcontract agreements within the Nord Stream 2 project.
- Advising Podvodsibstroy on the purchase of 11 vessels for maritime construction.
PwC Legal (PricewaterhouseCoopers Legal)
PwC Legal (PricewaterhouseCoopers Legal) utilises its varied expertise in corporate, construction, energy, tax and dispute resolution, together with its wide network of offices, to handle transactions related to production sharing agreements both in Russia and across the CIS region, with a focus on electrical power. Other areas of activity include restructuring, corporate governance and regulatory matters. Vladimir Sokolov heads the practice.
Sakhalin Energy Investment Company
Egesa Energy Group Ltd.
- Advising Sakhalin Energy Investment Company, an operator of the Sakhalin-2 oil and gas development, on matters related to the construction and operation of an oil and gas industrial park on Sakhalin Island.
- Advising FGC UES (Federal Grid Company) on the development of an integrated strategy for the consolidation of all the high-voltage grids in Russia.
- Advised KazMunayGaz on various legal matters related to a project including corporate law, financing, subsoil and hydrocarbons transportation regulations and tax matters.
Specialising in power generation projects, VEGAS LEX frequently represents clients in the energy sector in disputes involving regulatory authorities. Evgeniy Rodin and counsel Yuriy Tatarinov have varied experience in wholesale and retail electric power, antitrust and tariff regulation, and commercial disputes.
Irkutsk Electric Grid Company
Gazprom Gazoraspredelenie Chelyabinsk
- Advising Tatenergo on the procurement and contractual documents for the $1.2bn reconstruction of the largest hydropower plant in the Republic of Tatarstan, Russia.
- Defended Irkutsk Electric Grid Company in four disputes initiated by FGC UES (Federal Grid Company) over a debt for power transmission services.
- Successfully represented OGK-Investproekt in a dispute with its contractor in an energy construction project.