Addleshaw Goddard’s Scottish energy team hails strongest year-end to-date

Legal firm Addleshaw Goddard’s energy team in Scotland has hailed its strongest year-end to-date, with deal activity totalling £1 billion in the last month.

The firm said a standout contribution had been the recent acquisition of interests in the Cairn and Kraken oilfields by Waldorf Production, where the team at Addleshaw Goddard has been the lead advisor since its incorporation.

Legal experts are predicting a buoyant start to 2022, with strong demand for quality United Kingdom Continental Shelf (UKCS) assets likely to continue into the new year.

Deal transactions in the green energy sector have also hit a high, with the team acting on the Aberdeen Green Hydrogen Project.

David McEwing, co-head of energy and utilities at legal firm Addleshaw Goddard. Picture: Renzo Mazzolini

David McEwing, co-head of energy and utilities, said: “The combined efforts of our energy team have culminated in our strongest year-end to date, with a record value of deal activity confirmed.

“We are seeing more than green shoots in supply chain deals as we come out of the shadow of Covid. Though there is a far stronger pipeline of M&A [merger and acquisition] activity, Covid still has the potential to disrupt the market, so we must act cautiously.

“Demand across the energy spectrum will continue throughout the transition period, as the UK continues to operate at a deficit between production and consumption, meaning that the country will rely on imports from abroad.

“The supply chain will continue to support the industry and, at the same time, there are huge opportunities as the sector pivots to make the energy transition happen,” he added.

A message from the Editor:

Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions