Kim Talus

Because the EU depends on a very small number of external suppliers for its natural gas, energy security issues inevitably arise. In theory, competition law should regulate and adjudicate such issues. Yet, because contracts between EU companies and producers are highly sensitive and politically charged, the application of EU competition law to natural gas contracts is far from clear. This important book, drawing on ECJ case law, Commission administrative cases and inquiries, and the full range of relevant legal and economic theory, provides an extremely valuable and detailed study of how EU competition law can be applied to long-term natural gas capacity reservation and commodity contracts. Issues and topics such as the following arise in the course of the analysis: Third Gas Market Directive provisions; Article 102 TFEU cases on strategic under-investment; pre-liberation or "legacy" gas contracts (e.g., with Algeria and Russia); "right of first refusal"; take-or-pay requirement; third-party access; ownership unbundling; effect of elimination of priority access regimes; short-term trading; spot markets; and law and economics of vertical restraints. Focusing on the foreclosing effect of long-term upstream commodity contracts, the author recommends restrictions on the use of capacity reservation contracts, and analyses the efficacy of security of supply as a competition law defence in cases relating to such contracts.

Vertical Natural Gas Transportation Capacity, Upstream Commodity Contracts, and EU Competition Law

Penelope Crossley

Tade Oyewunmi

Frédéric Gilles Sourgens

This timely collection of essays examines the legal and regulatory dynamics of energy transitions in the context of emerging trends towards decarbonisation and low-carbon energy solutions. The book explores this topic by considering the applicable energy law and policy frameworks in both: (i) highly industrialised and major economies such as the US, EU, China and Australia; (ii) resource-rich developing countries such as Nigeria and regions like Southern Africa. Comprising 16 chapters, the book delves into the tradeoffs and regulatory complexities of carbon-constraints in conventional energy supply systems, while maintaining a reliable and secure energy system that is equally sustainable (ie decarbonised). It highlights the importance of ensuring affordable access to energy services in developing economies as the energy transitions unfold and explores the potentials of emerging technologies such as hydrogen networks, power-to-gas and Carbon Capture and Storage. Additionally, the book also considers the international investment law implications of energy decarbonisation. Focusing on the nexus between law, regulation and institutions, it adopts a contextual approach to examine how and to what extent institutions can effectively facilitate more reliable, sustainable and secure energy supply systems in the twenty-first century. This book portrays the conventional hydrocarbon-based energy supply industry in a largely international and interconnected context. It highlights the costs, benefits and losses that may arise as the transition towards decarbonisation unfolds depending on the pathways and solutions adopted. With chapters written by leading experts in energy law and policy, the reader-friendly style and engaging discussions will benefit an international audience of policymakers, academics, students and advisers looking for a more incisive understanding of the issues involved in energy transitions and the decarbonisation of energy systems.

Law, Policy and Regulation in Low-Carbon Energy Markets

Decarbonisation and the Energy Industry

Offering an introduction to students on the most essential elements of EU energy law and policy, this volume will be the go-to text for those seeking knowledge of EU energy regulation and its objectives, as well as an overview of energy law. Specific topics will cover the content of sector-specific energy regulation, the application and impact of general EU law on energy markets, third party access, unbundling, investment in cross-border networks, energy trading and market supervision, the application of general EU competition law on energy markets, the impact of free movement provisions, and the application of state aid rules. A structured, step by step guide through the fundamental areas of EU energy law.

Kim Talus

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