WWW.LEXPERT.CA
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2016
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LEXPERT 21
Johnston, Chip Stikeman Elliott LLP
(403) 266-9020 cjohnston@stikeman.com
Mr. Johnston is a partner in Stikeman Elliott's Calgary office. His practice
focuses on M&A and equity financings. He has particular expertise
representing US-based entities in their acquisitions and operations in
Canada. His practice provides a unique service offering within Stikeman
Elliott, ensuring that the firm can represent energy clients in all stages
of their growth.
Jenkins, William K. Dentons Canada LLP
(403) 268-6835 bill.jenkins@dentons.com
Mr. Jenkins's practice includes M&A transactions, project financings, joint
ventures, IPOs, public debt offerings, syndicated financings and corporate
governance. He is Global Vice Chair of Dentons and co-heads the M&A
practice of Dentons in Canada.
Ignasiak, Martin Osler, Hoskin & Harcourt LLP
(403) 260-7007 mignasiak@osler.com
Mr. Ignasiak appears in courts and tribunals in his regulatory, environmental
and Aboriginal law practice. He is the Co-Chair of Osler's national Regulatory,
Environmental, Aboriginal and Land Group. He advises on oil sands, electric
generation and transmission and mining facilities approvals. He also advises
on Aboriginal issues and impact benefit agreements.
Hurst, Michael A. Dentons Canada LLP
(403) 268-3046 michael.hurst@dentons.com
Mr. Hurst's energy law expertise embraces oil and gas upstream, midstream
and pipeline acquisitions; structuring greenfield projects; financing; and
product sales arrangements. He works on infrastructure projects in Canada
and South America.
Hurley, John Gowling WLG
(514) 392-9431 john.hurley@gowlingwlg.com
Mr. Hurley has extensive experience in public and commercial law,
with special emphasis on First Nations, energy and infrastructure,
environmental law and regulatory matters.
Hull, Robert G.S. Gowling WLG
(416) 369-7313 robert.hull@gowlingwlg.com
Mr. Hull is a partner in Gowling WLG's Toronto office specializing in
institutional Fund Formation for infrastructure and real estate funds.
He represents many enterprises active in the Canadian energy sector,
specifically in their financing and growth.
LEXPERT-RANKED LAWYERS
already been approved by the National Energy Board.
e BC Court of Appeal upheld that and slammed the
federal-provincial agreement to hold a single environ-
mental assessment process rather than parallel reviews.
Requiring Canadian energy companies to obtain re-
view from the federal as well as provincial governments
or face a court challenge is probably good news for the
environmental lawyers and litigators, but bad for the
energy companies who oen have many millions tied
up in projects that never seem to come to a close. If
large energy projects are so important to the Canadian
economy, the public sector — governments themselves
— should become the financial sponsors, says Richer La
Flèche. Expecting the private sector to spend billions of
dollars in such an uncertain regulatory climate, he says,
"is, frankly, unfair."
Fair or unfair, Shawn Denstedt, who practises energy
regulatory and Aboriginal law among other areas at Os-
ler, Hoskin & Harcourt LLP (where he is also co-chair)
says the immediate issue is how to get Canadian energy
to market in larger volumes with all the new require-
ments stalling things. "ey are quite frankly designed
to make Canada look more attractive to the world and
demonstrate we are trying to be a climate-change leader,
which will, in turn, make it easier to get these approvals
and help Canada's economy."
at may work, but in the meantime, there is a real
cost to Canada's large energy companies. He points to
the Kinder Morgan Trans Mountain pipeline expan-
sion as a perfect example. It received National Energy
Board approval in May — as long as it meets 157 con-
ditions including, for the first time, providing detailed
plans to reduce and offset carbon emissions. e Na-
tional Energy Board decision went to cabinet, which
makes the final call.
Cabinet usually makes its decision within three
months of getting the NEB report, several lawyers say.
But this time, Ottawa implemented the interim-review
process and appointed a ministerial panel to hold a ser-
ies of consultations with communities and First Na-
tions on issues outside the NEB's jurisdiction, which
will allow Aboriginal groups to comment on the NEB's
report. e consultations started in July and the report
will go to Cabinet in November — meaning that, if the
company even gets approval, it won't happen until New
Year's or even spring.
As for the mood in the oil patch, Denstedt says that,
with the energy business "pretty beat up" right now, the
concern is with certainty. "I think the bigger impact
is the investment community. When they look at our
processes and don't understand how they actually work,
they seem ad hoc. It's very difficult to go to Beijing or
Tokyo and say Canada has a process that is well under-
stood and provides certainty when it doesn't."
e thing is, if important foreign investors start to
shrug Canada off due to uncertainty over a moving fin-
ish line, the problem moves from big energy compan-
ies on to the larger economy — and the backs of all of
Canadians. at's the real risk, and it won't be pretty.
