The Energy Mergers & Acquisitions Review: Editors' Preface
Energy underpins our economy and is central for economic growth globally. Energy makes possible the investments, innovations and new industries that are the engines of jobs, growth and shared prosperity for entire economies. Although fossil fuels remain critical energy resources across the globe, the energy landscape is transforming, and renewable energy continues to play an increasingly important role in helping countries develop modern, reliable and resilient energy systems, and address environmental and climate concerns.
Energy M&A is important in facilitating innovation, technological change, growth and access to resources in the energy industry. Effective energy M&A practitioners must address a broad range of legal and other issues that arise in all M&A transactions, as well as issues unique to the energy space. As in the first two editions of this book, this third edition describes key energy-related M&A issues in a number of countries.
Each year, Oxford Languages typically identifies a 'word of the year'. In its 2020 annual report, it noted that the English language (like all of us) had to adapt rapidly and repeatedly, and declared that 2020 was a year that could not be neatly accommodated in a single word. Oxford Languages concluded that what was 'genuinely unprecedented this year was the hyper-speed at which the English-speaking world amassed a new collective vocabulary relating to the coronavirus, and how quickly it became, in many instances, a core part of the language'. Unsurprisingly, the coronavirus pandemic in 2020 had a huge negative impact in energy M&A. In 2021, however, there has been an uptick in energy M&A.
Kirkland & Ellis is a global law firm with over 350 lawyers involved in energy and infrastructure matters. In 2018, we thought it was time for the firm to take a larger thought leadership role in this space and began working with The Law Reviews to launch this series of volumes. We are pleased to continue serving as global editors.
We thank all the lawyers at Kirkland who developed the US chapter. We would also like to thank the contributing authors from Argentina, Brazil, Hungary, Nigeria, the Philippines and Singapore for their efforts in helping to put together this volume.
We hope our readers will find this to be a useful resource as they navigate the changing landscape of energy M&A.
Sean T Wheeler, Kristin Mendoza, Roald Nashi and Robert Fleishman
Kirkland & Ellis LLP
Houston, New York and Washington, DC