(October 31, 2011) - The energy and natural resources industries continue to grow as important drivers of the global economy, and Reed Smith LLP has today announced an expanded Energy & Natural Resources (ENR) Group to respond to its clients' needs around the world. The group is comprised of 100 lawyers in key geographies across the firm's global platform.
"Balancing energy supply and demand and managing the world's natural resources for sustainability are among the biggest challenges of the 21st century," said Gregory B. Jordan, Reed Smith's Global Managing Partner. "The members of our ENR Group have a deep understanding of the issues impacting the entire spectrum of the energy and natural resource industries, including a market-leading trading and commodities practice, one of the world's largest renewable and clean energy practices, and a fast-growing role as counsel for the largest players in the Marcellus Shale field. They will play a key role helping our clients, who are operating in increasingly globalized and volatile markets, anticipate and address every legal need they may encounter."
The ENR Group is multidisciplinary, combining regulatory, transactional and litigation disciplines. Its members are located in all of the firm's offices in the UK, the United States, Europe, the Middle East and Asia, providing an exceptional global platform for businesses engaged in the extraction, production, distribution or financing of energy and natural resources projects, products and services anywhere in the world.
Kyri Evagora, a partner in London, and Ellen L. Bastier, a partner in San Francisco, will head the group. The ENR Group pulls together the resources of the entire firm into an integrated and coordinated team focused on the broad energy and natural resources sector and its multiple, interrelated subsectors. The combined expertise of the group is a resource for clients who are developers, producers, manufacturers, traders, financiers and investors, insurers, and transporters in the energy and natural resources sectors, whether they are involved in the more traditional resources, such as oil, gas, nuclear, metals and minerals, or in renewable and clean energy.
"Our clients increasingly turn to Reed Smith because of its well-known strengths in renewable and clean energy, Marcellus Shale, commodities, trade and shipping, international project finance, and country-specific and cross-border M & A," said Mr. Evagora. "Not only will this industry group allow us to provide a one-stop seamless service to our clients, but our lawyers will also be singularly focused on staying ahead of what our clients and the marketplace need."
The continuing demand for energy and natural resources globally, driven by rapidly expanding Asian economies, ongoing demand in the United States, and the recognition that many natural resources are finite, has created an exploding market and a special focus on renewable energy resources.
"Reed Smith has one of the world's pre-eminent practices in renewable and clean energy, and its lawyers have been at the forefront of industry development for 25 years," said Ellen Bastier. "In the past five years alone, we have closed a significant number of renewable energy transactions involving more than 16GW of power and capital commitments in excess of $21 billion. Yet what we are seeing is that the drive for renewable energy is not just attracting those who have traditionally been in the sector but those historically outside as well, because of the significant economic advantages and tax incentives."
The group also has considerable strength providing transactional, litigation and regulatory support for businesses navigating the complex environmental aspects of conducting business in the ENR sector. The members are experienced in anticipating and managing the health, safety and liability issues that may arise in pursuing the profitable commercialization of energy and natural resource projects.
Reed Smith has played a leading role on transactions and litigation involving Marcellus Shale, an underground energy resource expected to become the leading source of natural gas in the United States within a decade. Recent projections by The Marcellus Shale Coalition and the U.S. Department of Energy suggest the Pennsylvania Marcellus can produce approximately a quarter of America's natural gas by 2020. Reed Smith lawyers are already deeply involved in all aspects of transforming this projection into reality.
According to Mr. Evagora, market conditions are expected to maintain the increased activity and investment in and around energy and natural resources. "Reed Smith's ENR Group is ready to service this increased demand, as well as help businesses respond appropriately to the increased regulatory activity surrounding energy and natural resources issues. Our lawyers are well-prepared to address the increased demand for legal services in every component of these important sectors."
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,600 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation and other dispute resolution services in multi-jurisdictional and other high-stakes matters; deliver regulatory counsel; and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent advisor to industries including financial services, life sciences, energy and natural resources, health care, advertising, technology and media, shipping, real estate, manufacturing, and education. For more information, visit reedsmith.com.
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