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Energy

Key Contacts

Cambodia

Indonesia

Laos

Myanmar

Thailand

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Jay Cohen

     +855 23 964 210

     [email protected]

Supasit Boonsanong

     +66 2056 5660

     [email protected]

Supasit Boonsanong

     +66 2056 5660

     [email protected]

Prisna Sungwanna

     +66 2056 5656

     [email protected]

Supasit Boonsanong

     +66 2056 5660

     [email protected]

Supasit Boonsanong

     +66 2056 5660

     [email protected]

Derrick Khoo

     +66 2056 5618 (TH) | +95 9 782 655 556 (MM)

     [email protected]

Supasit Boonsanong

     +66 2056 5660

     [email protected]

Charuwan Charoonchitsathian

     +66 2056 5657

     [email protected]

Tram Ngoc Bich Nguyen

     +84 28 6284 5668

     [email protected]

Supasit Boonsanong

     +66 2056 5660

     [email protected]

OVERVIEW

Powering Southeast Asia.

Tilleke & Gibbins’ regional energy team advises domestic and international clients in the oil and gas, power, and renewable energy sectors on all phases of major investments in Southeast Asia, including deal structuring, project financing, project development and construction, and operation.

We support the activities of domestic and international energy producers in onshore and offshore oil and gas exploration and related upstream and downstream operations, along with affiliated petrochemical and transportation operations. In the clean energy and renewables sector, we represent leading and exciting new companies in solar and wind energy, as well as important biomass and hydroelectric projects across the region. We also have extensive experience advising on cross-border energy transmission and energy storage projects across the region from start to finish.

We offer unparalleled advice on a full range of energy matters, including concession agreements, EPC contracts, environmental compliance, financing transactions, O&M agreements, production sharing agreements, supply agreements, public-private partnerships, and tax.

Case Studies
Thailand | Energy, Corporate/M&A

Valeura Energy’s Acquisition of Oil Producing Assets in Gulf of Thailand from Mubadala

Advised Valeura Energy Inc. in relation to a sale and purchase agreement with Mubadala Petroleum (Thailand) Holdings Limited for certain oil producing assets in the Gulf of Thailand.

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Thailand | Energy | Corporate/M&A

USD 4 Million Acquisition of 3.425 MW Solar Power Project

Advised the renewable energy branch of a power plant operator on its planned THB 138 million (approx. USD 4.39 million) acquisition of 100% shares in a 3.425 MW rooftop solar power project in Thailand.

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Experience

  • Represented a multinational supplier to the petroleum industry in the establishment of their Thailand operations. In establishing their base of operations in Southeast Asia, we developed a flexible approach to provide for continued growth of the business in the region, and to minimize tax exposure for the company.
  • Advised one of the largest biogas EPC contractors in Thailand on its fuel projects. The client develops, designs, finances, implements, and operates biogas projects, and we act as counsel on the full range of legal matters.
  • Assisted a Malaysian company in the oil and gas sector in an arbitration case before the Vietnam International Arbitration Centre (VIAC) in Ho Chi Minh City related to performance of contract in a well plugging and abandonment project.
  • Assisted a construction company specializing in wind and photovoltaic power stations to set up their operations in Thailand. Our team advised on BOI approval, including forms of legal entities for the project; relevant tax benefits and ramifications; import duties; customs; employment; licenses for construction and property ownership; government policy; availability of financial facilities; and competition.
  • Advised an engineering, construction, and petrochemical company in its pursuit of a renewable energy opportunity in Thailand. We assisted with land acquisition, contracting, permitting, environmental regulatory matters, financing, and construction contracting.
  • Advised a subsidiary of a major Chinese state-owned energy company on an engineering, procurement, construction, and commissioning (EPCC) contract for an oil and gas pipeline compressor project valued at about THB 6.5 billion (about USD 198 million) in Thailand with one of Thailand’s largest oil and gas companies.
  • Assisted multinational oil and gas traders with assessing exposure to environmental regulations.
  • Advised a global supplier in the heavy industries sector on various matters relating to the supply and installation of a production platform, bridges, and a flare tower in development of a petroleum concession, with a focus on tax matters (total contract price was approximately USD 1 billion).
  • Advised a fully integrated oil and gas conglomerate on various tax matters, arising from the sale and distribution of petroleum products in Thailand, with a focus on tax and corporate restructuring.
  • Assisted a major U.S. oil company in obtaining a license for a 100% foreign-owned enterprise in LPG production in Vietnam.
  • Assisted a major U.S. oil company in negotiations and contracts for a four-party joint venture oil refinery in Vietnam.
  • Represented a major Japanese oil and gas/energy and infrastructure company in joint venture negotiations and licensing of a Liquefied Petroleum Gas (LPG) storage facility project in Vietnam.
  • Advised a fully integrated oil and gas conglomerate on advertising and marketing activities in Vietnam.
  • Represented a module builder in Project Zawtika, a natural gas extraction project off the coast of Myanmar (Burma), in its construction of processing platforms and living quarters. These modules were built at a Thai shipyard and are now in use in the field.
  • Assisted the Thai subsidiary of a leading Japanese energy equipment manufacturer in formulating standard form contracts for the client’s rooftop engineering, procurement, and construction installation business in Thailand. Our firm assisted the client in preparing agreements for solar rooftop projects, sales and supply agreements, purchase agreements, and commissioning agreements.

PROFESSIONALS

RELATED INSIGHTS

May 19, 2023
On May 15, 2023, Vietnam’s Deputy Prime Minister Tran Hong Ha signed Decision No. 500 of the Prime Minister approving the National Power Development Plan for the period 2021-2030, with a vision to 2050 (“PDP VIII”), following extensive public consultations and multiple rounds of review since the first draft version was circulated in 2021. The plan was approved in the context that in the past few years, a number of large power projects have been behind schedule for operation, while new projects have not been able to be implemented due to waiting for additional planning. PDP VIII is the master plan for the development of the power source and transmission grid at 220kV or higher; services in renewable energy and new energy in Vietnam; and works connecting the power grids of Vietnam and neighboring countries. We set out below some quick updates regarding PDP VIII. 1. Development Targets Key development targets are summarized in the table below: Investors in coal, domestic gas, and LNG projects may need to have a conversion plan ready given the 2050 targets to convert to other sources of energy. 2. Solar Projects A list of 27 solar power projects that were planned for the period of 2021-2030 but which have not been assigned to investors are not allowed to be deployed but can be considered after 2030, except in the case of deployment in the form of self-production and self-consumption (Appendix IV). These projects represent 4,136.25 MW of capacity that will be left on the sidelines until 2030. 3. Hydropower Projects A list of 14 potential hydropower projects can be considered if economic and technical conditions allow for more hydropower development (Appendix III). These projects represent 1,244 MW of capacity that can be added to the hydropower targets for 2030. 4. Projects Prioritized for
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March 22, 2023
Attorneys from Tilleke & Gibbins have contributed the Cambodia, Laos, Myanmar, and Vietnam sections to DLA Piper’s Global Government Contracting Country by Country guide, which provides essential information for businesses in 75 jurisdictions on how to source and enter into government contracting opportunities. The guide provides procurement information for jurisdictions in Africa, the Americas, Asia-Pacific, Europe, and the Middle East, and includes information on how to find procurement opportunities, the structure of procurement laws, and in-country resources and relevant publications. Each jurisdictional section includes valuable information on procedures for government tenders, bidding, and contract execution, as well as an overview of the legal and regulatory framework governing government procurement. Businesses can refer to the guide to gain a better understanding of procurement processes and regulations in each jurisdiction, which can help them identify potential opportunities and make informed decisions when pursuing government contracts. The guide’s procurement information for Cambodia, Laos, Myanmar, and Vietnam, combined with the online platform’s comprehensive resources, provides businesses and governments with a valuable tool to navigate the complex regulatory landscape of government contracting in the region. The full Global Contracting Country-by-Country guide is available on the DLA Piper website.
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February 20, 2023
On December 20, 2022, the Notification re: Rules, Procedures, and Conditions on Transfer of Energy Licenses of the Thailand Energy Regulatory Commission (ERC) became effective. The notification sets out the new standard and procedure for transferring licenses for energy industry operation. The notable changes in the notification are provided below. Anti-Competition Consideration and Impact Assessment Report In considering the transfer of a license, in addition to ensuring the transferee meets all the qualifications for an applicant for the license, the ERC will consider if the transfer would (1) create a monopoly, reduce or restrict competition, or result in market dominance; (2) affect the contracting parties of the transferors or energy users; or (3) affect energy security or the public interest. In this respect, the vetting process for an application for license transfer would be separated into two different approaches. If the ERC believes that the transfer of the energy license would affect competition, energy users, energy security, or the public interest, the transferor will need to submit an impact assessment report on the license transfer to the ERC. In this regard, the ERC may establish a sub-committee or an independent consultant to contemplate the transfer at the transferor’s expense. However, if the ERC believes that the transfer of license would not lead to any impact, the transferor will not be required to submit the impact assessment. Also, if the license transfer is related to any transactions specified under the ERC’s Regulation re: Rules and Procedures on Merger and Cross-Shareholding in Energy Businesses, B.E. 2565, the ERC can combine the license transfer application with the M&A application. After approval, the ERC might require the transferee to periodically report to the ERC and comply with measures stipulated by the ERC. Therefore, an energy license holder which plans to carry out M&A
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February 3, 2023
The Federation of Thai Industries (FTI) announced on January 16, 2023, the opening of registration for carbon credit trading on its Renewable Energy and Carbon Credit Exchange Platform. This new online platform supports the domestic carbon market and provides Thai exporters with the ability to purchase carbon credits, allowing them to address demands from importing nations to conform to carbon emission reduction regulations. This is expected to be a positive step forward for the current practice in Thailand, in which the carbon market operates as a voluntary and unregulated buy-sell platform, free from government regulation. Developed in partnership with the Thailand Greenhouse Gas Management Organization (TGO), the FTI: CC/RE/REC X Platform, or FTIX, is intended to increase the promotion of national carbon credits, renewable energy, and renewable energy certificates, thus improving the country’s efforts to mitigate climate change. Entrepreneurs interested in registering for carbon credit trading on the FTIX can do so through the FTIX website at fti-cc.com. The platform initially supports carbon credit trading through over-the-counter methods. In the near future, the FTIX will be developed to support 100% renewable energy (i.e., RE100 energy) and renewable energy certificate trading. However, the related tax and carbon pricing policies have not yet been issued. The TGO is currently in discussions with the Fiscal Policy Office and the Ministry of Finance regarding fiscal policy for the FTIX. For more information on the FTIX, or on any aspect of renewable energy activities in Thailand, please contact Charuwan Charoonchitsathian at [email protected], Napassorn Lertussavavivat at [email protected], or Ratchapat Triteeyaputranonta at [email protected].
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AWARDS & RANKINGS
January 30, 2024
The International Financial Law Review (IFLR) recently unveiled the shortlists for the IFLR Asia-Pacific Awards 2024, and Tilleke & Gibbins has been nominated for Thailand Firm of the Year at this competition recognizing outstanding legal firms and professionals across the Asia-Pacific region. The IFLR Asia-Pacific Awards are based on research by the IFLR team and careful selection by an internal panel of judges. The firm’s nomination conveys the firm’s continued commitment to excellence and its leading position in Thailand’s legal landscape. Winners of the IFLR Asia-Pacific Awards 2024 will be revealed at a gala dinner to be held in Hong Kong on March 20, 2024, at an event that will bring together industry leaders and legal professionals to celebrate excellence in the legal field. IFLR is a longstanding legal publication focusing on financial, transactional, and related matters in business law. To browse a full list of nominees for the IFLR Asia-Pacific Awards 2024, please see the shortlist on the IFLR website.
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January 18, 2024
Law.com International has unveiled the shortlists for the Asia Legal Awards 2024, and Tilleke & Gibbins has been nominated for awards in four categories.  The nominations include:  Southeast Asia Firm of the Year  Intellectual Property Firm of the Year (Asia-wide)  M&A Firm of the Year (Asia-wide)  TMT Firm of the Year (Asia-wide)   In addition to these regional firm nominations, Tilleke & Gibbins has also been acknowledged for its exceptional work in the field of restructuring and insolvency. The efforts of Tilleke & Gibbins’ dispute resolution team in connection with Thai AirAsia X’s business rehabilitation plan earned the firm a nomination for Restructuring and Insolvency Matter of the Year.   The winners of the Asia Legal Awards 2024 will be unveiled on March 14 at an in-person event in Singapore. For more information on the Asia Legal Awards 2024, and to browse a full list of nominees in all categories, please visit the Law.com International website. 
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January 18, 2024
Tilleke & Gibbins once again earned high marks across all six jurisdictions in the 2024 rankings from The Legal 500 Asia Pacific, which was released on January 17. This year, Tilleke & Gibbins’ rankings reflect continued excellence in the practice area rankings, plus new individual recognitions for eight more Tilleke & Gibbins practitioners. In total, Tilleke & Gibbins received 30 practice rankings—over a third of which are Tier 1.  The firm’s Thailand office earned 15 practice-area rankings:  Tier 1: Dispute Resolution, Intellectual Property, Labor and Employment, TMT (Technology, Media, and Telecommunications), Tax  Tier 2: Banking and Finance, Capital Markets, Corporate and M&A, Customs and International Trade, Insurance, Projects and Energy, Real Estate and Construction, Restructuring & Insolvency, Transport  Tier 3: Dispute Resolution: International Arbitration  Tilleke & Gibbins’ offices in Vietnam received rankings for 10 practice areas:  Tier 1: Data Protection, Intellectual Property (International Firms), Labor and Employment, TMT  Tier 2: Corporate and M&A   Tier 3: Dispute Resolution: International Arbitration, Dispute Resolution: Litigation   Tier 4: Banking and Finance, Projects and Energy  Firms to Watch: Real Estate and Construction  Tilleke & Gibbins earned five additional practice-area rankings in Cambodia, Indonesia, Laos, and Myanmar:   Tier 1: Laos (General Business Law), Myanmar (Corporate and M&A)  Tier 2: Cambodia (General Business Law); Indonesia (Intellectual Property); Myanmar (Projects)   In addition to the practice-area rankings, a record number of Tilleke & Gibbins lawyers were honored with individual recognitions. The Tilleke & Gibbins practitioners included in the 2024 rankings from The Legal 500 Asia Pacific are listed below:  Alan Adcock – Thailand – Intellectual Property  Athistha (Nop) Chitranukroh – Thailand – Insurance, TMT Chaiwat Keratisuthisathorn – Thailand – Real Estate and Construction Charunun Sathitsuksomboon – Thailand – Corporate and M&A Chusert Supasitthumrong – Thailand – Labor and Employment Darani Vachanavuttivong – Thailand – Intellectual Property  David Mol
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December 14, 2023
The recently released 2024 edition of Chambers Asia-Pacific gives Tilleke & Gibbins high marks across all of the firm’s jurisdictions in Southeast Asia. In addition to the practice-area rankings, individual practitioners from the firm’s offices across the region received a record total of 35 individual rankings.
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