Clifford Chance

Energy Transition

• ExxonMobil Low Carbon Solutions on its carbon capture and storage agreement with Illinois-based CF Industries to transport and permanently store up to 500,000 metric tons per year of CO₂ from CF Industries’ complex in Yazoo City, Mississippi.
• Brookfield Renewable in connection with its joint venture with California Resources Corporation to create a carbon management partnership focused on carbon capture and sequestration development
  
• ExxonMobil in its collaboration with CF Industries and EnLink Midstream on the largest-of-its-kind emissions-reduction project in Louisiana to capture and permanently store up to two million metrics tons of CO2 annually
• Chevron New Energies in its joint venture with Talos Low Carbon Solutions and Carbonvert to develop the Bayou Bend CCS offshore carbon capture and sequestration hub, the first and only offshore lease in the US dedicated to CO2 sequestration
• Chevron U.S.A. Inc. in connection with the operation of its joint venture with Bunge Limited for oilseed processing and the purchase of seed oil for use as renewable feedstock to manufacture transportation fuels with lower lifecycle carbon intensity
• A private multinational energy infrastructure company in the construction of 350-mile interstate steel trunk line that is capable of transporting 12 million tons of CO2 per year and that will service customers looking to decarbonize across the Midwest and Ohio River Valley
• Alder Fuels, a cleantech company, on its joint venture with United and Honeywell to create one of the largest sustainable biofuel ventures in aviation history and its associated purchase agreement with United for the sale and purchase of 1.5 billion gallons of sustainable aviation fuel (SAF)
• Quanta Services, in its proposed US$2.7 billion acquisition of Blattner Energy, a leading utility-scale renewable energy infrastructure solutions provider in the North America, including the evaluation of renewable energy infrastructure construction agreements
• A major international E&P company in connection with the construction of a first-of-its-kind experimental solar facility in California
• Chevron U.S.A. in connection with the deployment and ongoing financing of a ground-breaking bioenergy with carbon capture and sequestration (BECCS) project designed to produce carbon negative power in Mendota, California
• Occidental Petroleum and its Low Carbon Ventures business on a CCS project with White Energy intended to qualify under the 45Q credit program and California’s Low Carbon Fuel Standard and other matters in connection with CCS, including the negotiation and development of (i) engineering, procurement and construction (EPC) contracts for construction of carbon capture units located at White Energy ethanol plants, (ii) engineering, procurement and construction management (EPCM) contracts for construction of the project’s CO2 transportation pipelines, and (iii) contracting agreements for right of way and survey services with respect to the project’s CO2 transportation pipelines
• An electric vehicle charging station manufacturer in the negotiation of an international supply and distribution agreement
• A public industrial gas company in negotiating a definitive agreement for the engineering and design of a renewable diesel plant
• A public company in a cross-border transaction for the offtake and supply of more than 5,500 bpd of recycled lubricating oils in partnership with a supermajor oil company
• Oaktree Capital Management on commercial and industry matters related to Montana Renewables, LLC’s US$300 million convertible debt investment from funds managed by Oaktree Capital

Infra and Midstream

• Equitrans Midstream Corporation in transformative actions including its acquisition of EQM Midstream Partners, a share buy back from EQT, and entrance into a gas gathering and compression agreement with EQT (and various affiliates) providing EQM with a minimum volume commitment of 3 billion cubic feet of natural gas per day during the term
• Equitrans Midstream in entering into a 10-year mixed-use water services agreement with EQT Corporation covering operations in southwestern Pennsylvania with a yearly minimum revenue commitment of US$35-US$40 million
• EQM Midstream Partners in its US$1.03 billion acquisition of Eureka Midstream Holdings and Hornet Midstream Holdings
• Riverstone Holdings in its US$2.685 billion acquisition of International-Matex Tank Terminals from Macquarie Infrastructure Corporation
• Sasol in its US$2 billion sale of a 50% stake in its Lake Charles Chemical Plant joint venture to LyondellBasell and negotiation of numerous joint venture commercial and operational contracts
• A public oil and natural gas company in its offtake agreement with a public midstream service provider for the transport and sale of Y-Grade
• UGI Corporation in its US$1.3 billion acquisition of Columbia Midstream Group from a subsidiary of TC Energy Corporation
• Canada Pension Plan Investment Board in its US$1.3 billion investment into a US$3.8 billion joint venture with The Williams Companies, including midstream assets in the Utica and Marcellus shale regions

Upstream

• Riverstone Holdings in the sale of offshore GOM producing assets and exploration prospects of ILX Holdings, ILX Holdings II, ILX Holdings III, and primary term onshore acreage of Castex Energy 2014 to Talos Energy
• A private investment company in the acquisition of a private E&P company owning and operating offshore assets in the Gulf of Mexico from private sellers
• Development Capital Resources in connection with a US$165 million drilling joint venture covering upstream acreage in the Wolfcamp shale, Permian basin region