LNG lockdown lessons: what next for the LNG industry post-COVID?

Despite the current challenges of the COVID-19 pandemic and low LNG prices, the future is bright for LNG. Bracewell considers the impact of the COVID-19 pandemic, the lessons for the LNG sector and how the LNG SPAs of the future may be adapted so the LNG industry can continue to thrive. An industry in turmoil The LNG industry was already dealing with more than its fair share of challenges when it was thrown further off course by the “double whammy” of reduced energy demand due to the steep decline in economic and industrial activity triggered by COVID-19 and the plunge in LNG prices caused by...

The Commodity Futures Trading Commission Guidance

The Commodity Futures Trading Commission (“CFTC” or “Commission”) Division of Enforcement (“Division”) today issued “ Civil Monetary Penalty Guidance ” regarding factors staff will consider when recommending civil monetary penalties to the Commission. The guidance tracks with prior guidance and current practices but can serve as a helpful resource for measuring and mitigating enforcement risk. The guidelines identify three broad categories of factors staff considers: 1. Gravity of the Violation The Division will consider the (a) nature and scope of the violation (e.g., duration and degree of...
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VAT to increase to 15% in KSA – what does this mean for PPPs?

Saudi Arabia’s Minister of Finance, Mohammed Al-Jadaan, announced on 11 May 2020 that VAT in the Kingdom (currently at 5%) will be increased to 15% from 1 July 2020. While this move is undoubtedly a sound fiscal step in the context of the ongoing global economic slump resulting from the COVID-19 crisis, the timing of the announcement has taken most (particularly in the CAPEX heavy infrastructure and utilities market) by surprise. It goes without saying that all PPP developers, in whatever sector, need to take a fresh look at their resultant cash-flow and revenue generation position and...

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