scholarly journals International Project Finance

The second edition of this text on project financing continues to provide guidance on the legal and practical issues relevant to international projects. As well as addressing the basic principles which affect the structuring and documentation of project financings, the book also explains structural, legal, and contractual differences between the various sectors such as transportation, telecommunication,infrastructure/public private partnerships, conventional, renewable and nuclear power, mining, and oil and gas, the latter sector focus being new to this edition. The book considers the application of English and New York law in cross-border documentation and legal and practical matters associated with running financing projects in civil law jurisdictions. Different sources of funding are also examined, such as banking and international bond documentation, and Islamic financing practice, in particular the use of Murabaha financing techniques and with additional analysis in this edition of the growing sukuk (Isalmic bond) market. This includes the legal and documentation issues arising from the use of such financing techniques and how they interact with each other from a legal and contractual perspective. The book also provides analysis of project defaults and work-outs giving guidance on how to manage projects when these circumstances arise. The book also contains coverage of dispute resolution in international projects.

The second edition of this new authority on project financing continues to provide guidance on the legal and practical issues relevant to international projects. As well as addressing the basic principles which affect the structuring and documentation of project financings, the book also explains structural, legal, and contractual differences between the various sectors such as transportation, telecommunication, infrastructure, public/private partnerships; conventional, renewable, and nuclear power; mining, and oil and gas. It considers the application of English and New York law in cross-border documentation and legal and practical matters associated with running financing projects in civil law jurisdictions. Different sources of funding are also examined. These include the legal and documentation issues arising from the use of such financing techniques and how they interact with each other. Equally significant, the book provides analysis of project defaults and work-outs giving guidance on how to manage projects when these circumstances arise. It also contains extensive coverage of dispute resolution in international projects. Project finance is used worldwide to structure and finance natural resource and infrastructure projects. This book provides detailed guidance on practical issues such as the identification and assessment of project risk with relevant documentation such as risk matrices and checklists covering both key project contracts and the major terms of a project financing aimed at providing practical guidance to practitioners on the structuring of projects.


Author(s):  
Dewar John

This chapter describes a number of international projects in various areas: oil and gas; mining projects; conventional power; renewable energy; nuclear power projects; and the infrastructure of public and private partnerships. Oil and gas projects span a broad range of activities from upstream ‘exploration and production’ projects to downstream LNG and petrochemicals projects. The second part of the chapter begins with a brief overview of the current American, UK, French, Japanese, Korean, and Saudi Arabian power markets focusing on current electricity generation mix policies in these markets and the current and future place of conventional power therein. The text then looks at renewable energy projects. These share many of the characteristics of conventional power projects. However, there are certain crucial differences which will impact upon the contractual structure and risk allocation employed in the development of these projects. Nuclear power projects are perhaps the most challenging power/infrastructure projects to develop and finance. The chapter finally provides a discussion of the applicability of project finance principles and disciplines to a unique and challenging segment of the power/infrastructure sector.


Author(s):  
Davies Aled ◽  
Orme James

This chapter discusses the key features of project financing in the following sectors: oil and gas mining, conventional power, renewable energy, and nuclear power. The chapter is organized as follows. Section A on oil and gas covers project structuring, sales contracts, key risks in an oil and gas project, and financial considerations. Section B on mining covers environmental and social impact, completion risk, reserve estimates and market risks, resource nationalism and political risk, terms of a mining financing; and steaming agreements, royalty agreements, and other alternative finance options. Section C on conventional power covers the IPP model, an overview of power markets, IPP risk allocation and contractual structure, key risks in an independent power project, and financing considerations. Sections D and E cover renewable energy and nuclear power projects, respectively. Section F focuses on the development and financing of public infrastructure and public private partnership (PPP) projects.


Author(s):  
Irina Aleksandrovna Trushina

The article describes specific features of project financing in the Russian Federation. It is stated that in Russia in recent years new investment projects have been launched, which are expected to be implemented using the project financing method, which indicates a favorable investment climate and the state's readiness to develop and improve this mechanism. Most of the projects are related to the industrial sector; in this regard, the analysis of projects and a synthesis of experience in the application of project financing have been conducted. Projects that were not always successful were analyzed, as well as an example of a project implemented with the assumption of design errors, in which the basic principles of project financing were not applied, but the result of its functioning turned out to be positive. According to the results of the analysis, the author grouped the general trends of project implementation, formulated the conditions that confirm the use of project financing, and identified key errors in the implementation of large-scale investment projects involving industrial enterprises. Priority sectors of the economy are defined, in which large-scale investment projects are most often developed and implemented (oil and gas extraction, processing and transportation). A review of Russian experience of project financing made it possible to understand the level of prevalence of this method and the effectiveness of its use, as well as to identify the main factors constraining and stimulating the use of project financing by industrial enterprises. Taking into account these factors will contribute to the formation of new directions and the development of methods for stimulating project financing for their successful use in the implementation of large-scale investment projects.


2019 ◽  
Vol 37 (2) ◽  
pp. 116-137
Author(s):  
Sabine von Mering ◽  
Luke B. Wood ◽  
J. Nicholas Ziegler ◽  
John Bendix ◽  
Marcus Colla ◽  
...  

Dolores L. Augustine, Taking on Technocracy: Nuclear Power in Germany, 1945 to the Present (New York: Berghahn Books, 2018)Michael Meng and Adam R. Seipp, Modern Germany in Transatlantic Perspective (New York: Berghahn Books, 2017)Cynthia Miller-Idriss, The Extreme Gone Mainstream: Commercialization and Far Right Youth Culture in Germany (Princeton: Princeton University Press, 2017)Constantin Goschler, ed. Compensation in Practice: The Foundation ‘Remembrance, Responsibility and Future’ and the Legacy of Forced Labour during the Third Reich (New York: Berghahn Books, 2017)Albert Earle Gurganus, Kurt Eisner: A Modern Life (Rochester: Camden House, 2018)Claudia Sternberg, Kira Gartzou-Katsouyanni, and Kalypso Nicolaïdis, The Greco-German Affair in the Euro Crisis: Mutual Recognition Lost? (London: Palgrave MacMillan, 2018)


2020 ◽  
pp. 104250
Author(s):  
Timothy S. de Smet ◽  
Alex Nikulin ◽  
Natalia Romanzo ◽  
Nathan Graber ◽  
Charles Dietrich ◽  
...  

2021 ◽  
Vol 13 (10) ◽  
pp. 5592
Author(s):  
Ludovic-Alexandre Vidal ◽  
Franck Marle ◽  
Mathieu Dernis

International companies are more and more seeking to act proactively by proposing In-Country Value (ICV) strategies to create sustainable local values in the host countries in which they carry out projects. Still, such sustainable local values are complex to identify because they are often indirectly related to their own value chains, project activities, and outcomes. There are, therefore, both theoretical and industrial needs to model and estimate sustainable values brought by complex projects in host countries, considering direct and indirect effects. In this paper, a systems thinking-based approach combined with a frequency analysis first permitted to build up a model of the sustainable values created by the project in a host country. Then, after underlining the complexity of such a model, a Domain Mapping Matrix (DMM) approach was proposed to help build a process to estimate project impacts in terms of ICV creation. An application to a case study built up with an industrial practitioner (an oil and gas company) permitted to test and validate the overall model and approach. It notably showed how such a model permitted to facilitate discussions among stakeholders and laid the foundations of ICV creation-oriented decision-making processes.


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