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William Lowery

William Lowery is an associate working in Covington’s international arbitration and dispute resolution practice group. He has significant experience in energy related matters around the world; for example, helping to represent and advise clients in relation to disputes under PSCs, JOAs and other license related agreements, service contracts (both onshore and offshore), semi-sub, drill ship and FPSO charters, long-term supply agreements for a variety of commodities (including oil, pipeline gas, LNG, LPG and coal), storage contracts, pipeline transportation agreements, and various electricity-market related contracts and regulatory issues.

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What’s the Deal with Low Oil Prices?

By William Lowery on Posted in Oil
The International Energy Agency (IEA)’s latest monthly market report, published on November 13, 2015, revealed that the already “massive cushion” of oil stockpiles has inflated further to reach a record level of almost 3 billion barrels.  Following the announcement, oil prices reportedly dropped to a two-month low. The IEA described this stockpile as “an unprecedented … Continue Reading

DECC Announces Early Closure of UK Renewables Obligation

By William Lowery on Posted in Renewables
In our three-part series published last week, we outlined the possibility of the UK Government closing the Renewables Obligation (“RO”) scheme to new onshore wind generating stations in 2016, a year earlier than expected. On 18 June 2015, the UK Department for Energy & Climate Change (“DECC”) formally announced the UK Government’s intention to close … Continue Reading

The Uncertain Future of the UK Renewables Obligation: A Three-Part Series

By William Lowery on Posted in Renewables
In early June 2015, the UK Department for Energy & Climate Change (“DECC”) was expected to announce plans to close the existing subsidy scheme for onshore wind, the Renewables Obligation (“RO”), to new generating capacity a year earlier than expected. This announcement has been delayed amid concerns that it could spark potential legal challenges from … Continue Reading

The Uncertain Future of the UK Renewables Obligation: A Three-Part Series

By William Lowery on Posted in Renewables
In early June 2015, the UK Department for Energy & Climate Change (“DECC”) was expected to announce plans to close the existing subsidy scheme for onshore wind, the Renewables Obligation (“RO”), to new generating capacity a year earlier than expected. This announcement has been delayed amid concerns that it could spark potential legal challenges from … Continue Reading

The Uncertain Future of the UK Renewables Obligation: A Three-Part Series

By William Lowery on Posted in Renewables
In early June 2015, the UK Department for Energy & Climate Change (“DECC”) was expected to announce plans to close the existing subsidy scheme for onshore wind, the Renewables Obligation (“RO”), to new generating capacity a year earlier than expected. This announcement has been delayed amid concerns that it could spark potential legal challenges from … Continue Reading

‘Trigger Happy’: Considering the Requirements of Your Price Review Clause

By Jeremy Wilson and William Lowery on Posted in Arbitration, Natural Gas, Oil
Given the fall in oil prices, many participants in the oil sector have been forced to re-evaluate their investments.[1]  A drop in oil prices not only impacts the oil industry; it can also have a significant effect on gas and LNG prices around the world.  Many long-term gas and LNG sales agreements continue to peg … Continue Reading

A Consequence of Falling Oil Prices

By William Lowery and Jeremy Wilson on Posted in Oil
Oil prices have plunged in the last few months.  For example, Brent futures traded at over $110 per barrel in June, and fell below $85 last week.  This is a fall of over 20%, and the market price for crude oil is now at its lowest level since 2010. Oil prices impact activities in the … Continue Reading

A Quick Look at the Gazprom/Naftogaz Contract Dispute

By Jeremy Wilson and William Lowery on Posted in Europe, Natural Gas
On Monday, June 16, 2014, Gazprom and Naftogaz each announced that they were commencing arbitration proceedings under the SCC Rules (seated in Stockholm, Sweden). The arbitration arises under Contract No. KP dated January 19, 2009 (the “Contract”), a 10 year, long-term gas sales agreement between Gazprom and Naftogaz for volumes ranging from 40 to 52 … Continue Reading

Pricing Complexity and Predictable Disputes – A primer on modern long-term gas supply contracts

By Jeremy Wilson and William Lowery on Posted in Europe, Natural Gas
On Monday, June 16, 2014, Gazprom announced that it commenced arbitration proceedings against Naftogaz under the SCC Rules (seated in Stockholm, Sweden) alleging that Naftogaz has failed to pay US$4.5 billion for gas that Gazprom has already delivered to Naftogaz. Naftogaz also announced that it had commenced a claim under the SCC Rules, seeking the … Continue Reading

An International Approach: Events Shaping the Application of the Natural Gas Act

By William Lowery on Posted in Natural Gas
Three independent, but not wholly unrelated, events occurred over the last few weeks, each arising out of the Natural Gas Act’s application and the growing importance of LNG exports to the United States and the international community. (1) Following the crisis in Ukraine, there were continuing calls from a variety of politicians and pundits to … Continue Reading
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