Our firm has always strived to be in the forefront of both national and international developments in law and business, in an effort to best serve its clients. Recent developments in Cyprus and the eastern Mediterranean suggest that soon the area may have a significant role to play in the production, liquefaction and movement of natural gas in the region. As a result, we have expanded our expertise in the area of oil and gas law and, in this context, our firm recently conducted an internal, specialised seminar on the legal aspects and new developments on this subject in Europe and Cyprus.
The two day seminar, attended by the majority of the Firm’s legal staff, included presentations regarding the geopolitical developments in the eastern Mediterranean, with regard to oil and gas, the life stages of the product from exploration to production and distribution, and the current EU policies and legislation regarding energy. It further examined the existing legislation of Cyprus on energy, including the Cyprus law regarding applications for filing for a license to explore in Cyprus.
It is our belief that a law firm becomes not only a legal advisor but also a true business consultant to a client, through building long lasting relationships, aimed at understanding not only the client’s legal needs, but also its business. Thus, the seminar included extensive information on the life-cycle of the product and the exploration, drilling, production and distribution stages. Our lawyers are now well placed to assist in this area of law, as they have a firm understanding of the business processes in oil and gas extraction and distribution.The seminar also included an analysis of the latest EU Energy policy and the impact of the Third Package on the sale and distribution of the product in Europe. The new regulatory structures for the Agency of Cooperation of Energy Regulators (ACER), and the European Networks for Transmission System Operators (ENTSO (E and G)) were also presented. Given that the government of the Republic of Cyprus will be soon inviting applications for further exploration in its Exclusive Economic Zone in the Mediterranean, our firm is fully able to assist clients with this process.