Nic is a partner at Mercatis Law in Singapore. He has extensive experience in a wide range of transactional matters relating to the sale and purchase of energy, derivatives and commodities. He frequently works with trading houses, energy utilities and energy start-up companies across EME and APAC.
Liquified Natural Gas (LNG)
Nic has a decade of experience in the LNG sector and has reviewed in excess of 200 LNG MSPAs and most suites of tender documentation. He advises on spot, mid-term and longer term deals across the LNG value chain. In addition to assisting clients with due diligence exercises, he has also advised on reviews of terminal rules used by European LNG terminals and on regulatory issues applicable to the LNG markets such as REMIT. His Asia-Europe experience is an asset for clients active globally.
He helps clients to analyse and address cross-portfolio legal risk and has a distinctly commercial approach gained from working closely with traders, especially at Koch Supply & Trading where he was the lead counsel for LNG trading in EME and APAC. See our LNG microsite here.
Energy & Commodities Trading
Nic is an expert in all of the standard energy trading contracts published by EFET, ISDA and the FOA. He has served as outside counsel to EFET for many years on various matters and assisted with the finalisation of the industry standard EFET Master Netting Agreement prior to official publication. He has prepared standard forms of the entire EFET and ISDA suite of contracts, including drafting detailed user and negotiation guides. He has successfully negotiated these agreements countless times. Nic has also successfully designed and concluded various complex and structured transactions using standard form contract terms as the base, including long form confirmations. Nic also has significant experience in negotiating the Spanish Acuerdo Marco gas trading agreement.
Additionally, Nic’s transactional experience includes drafting general terms and conditions for the sale, purchase and storage of various commodities, including renewable certificates, LNG, oil / products, iron ore, coal, commodities and metals. Additionally he has also worked on a number of financing and corporate transactions in the energy and natural resources sector. See our gas and power microsite here.
Nic has reviewed oil product storage agreements for facilities located around the world. He is particularly familiar with terms used in the European and Asian markets. He has lead diligence exercises in these jurisdictions and has successfully worked with local counsel to acquire relevant local licences.
Cross Border Legal Projects
Nic has worked on a number of global legal projects involving the set up of commodities trading businesses, he is an excellent legal project manager and is able to seamlessly connect and address all of the moving parts to ensure a smooth and efficient process.
- Horsfield Consulting Limited
- Koch Supply & Trading
- Reed Smith LLP
- RWE Supply & Trading
- Reed Smith LLP (including secondments to Koch Supply & Trading and Trafigura)
- Reviewing and advising a trading house on a tender to supply LNG to the Adriatic LNG and OLT Toscana regasification terminals for use for peak-shaving activities.
- Reviewing contracts, credit requirements (including performance bonds, parent company guarantees and letters of credit) and legal process for LNG tenders in Mexico, Africa, Australia, Jordon, Egypt and Argentina.
- Advising an LNG structured origination team on a number of potential trade structures, flows and possible credit arrangements, including in relation to small-scale LNG projects and trucked LNG.
- Reviewing and advising on the terminal rules in force at the Barcelona, Bilbao, Huelva, Sagunto, Adriatic, Toscana, Gate, Grain and South Hook LNG terminals.
- Advising on a US$70m transaction for the assignment and novation of a portfolio of LNG contracts from a company exiting the LNG market.
- Assistance with the start-up of a global commodities trading operation on behalf of a South American based investment bank. I was the lead associate on this cross-border, high profile matter. The client intends to trade a huge range of commodities across the world on a physical and financial basis.
- Reviewing and drafting amendments to a multi-delivery yearlong LNG supply agreement and providing advice as to risks and issues.
- Providing ongoing counsel in respect of a complex £30m+ dispute regarding an LNG Master Agreement on a myriad of legal issues arising out of the dispute at the pre-arbitration stage.
- Assisting a European energy utility with a £150m+ tender for the sale in the UK of green energy and similar renewable source certification products (ROCs, LECs & REGOs) produced by a large portfolio of wholly and majority owned offshore wind farms.
- Acting for a number of clients with the drafting of “preferred forms” of UK/European power and gas trading documentation including assisting with the negotiation of such documentations with counterparties and the preparation of bespoke user guides.
- Lead associate on a project in respect of a new market entrant with the design and implementation of a bespoke form of EFET General Agreement (Gas) with NBP Appendix in addition to a bespoke form of Trading Services Agreement.
- Changes to the UK Gas Transmission Charges: Ofgem UNC678 Consultation
- When your binding LNG trade is non-binding
- The LNG MSPA – an introduction
- Reasonable or best endeavours – how hard should you try?
- Japan bans destination restrictions in FOB contracts
- Duty of good faith
- BPP Law School, 2007, Legal Practice Course – Distinction
- University of Leicester, 2006, Law LLB – 1st Class Honours
Professional Admissions and Qualifications
- England & Wales – Solicitor
- Singapore – Registered Foreign Lawyer