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Midstream is the essential segue between the exploration and production (upstream) and refining oil  products and marketing (downstream) and includes pipelines and other transportation (shipping), and storage.


Geopolitics and the need to transport oil and gas over long distances to markets with high demand continues to drive growth in the development of pipelines. These enormously complex and capital intensive 'midstream' projects require a detailed knowledge of the sector as well as an international presence.


Given the global growth in demand for energy and the volatility of the energy markets generally, storage (on–and offshore) is increasing seen as an essential tool to bring enhanced security of supply and stability to energy markets.



Shipping and off-shore finance is an increasing important part of the energy supply chain as companies look to transport oil and gas over long distances to markets with high demand.  An increasing appetite for ultra deep water oil and gas exploration is also fuelling the demand for ships such as FPSOs, drillships and other offshore support vessels
Allen and Overy are pioneers in this market advising a broad range of clients including IOCs, NOCs, independents, governments, funder (equity, debt, ECAs) banks, lessors, lessees, and ship owners on the full range of ship financing techniques, EPIC and chartering arrangements.
The range of vessels on which we have advised is broad including: FPSOs, LNG carriers, drill ships, rigs, wind turbine installation ships, chemical tankers, ship conversions and VLCCs. We provide our clients with the right legal advice and structures, whatever the vessel type, and ensure this is appropriate to the market in which it will operate.

News and insights

A cloudy sky seen through a modern metal sculpture

News: 13 March 2023

A&O advises the underwriters on the USD2.5bn IPO and listing of ADNOC Gas on the ADX - Abu Dhabi’s largest-ever market debut and the largest IPO globally to date this year

Allen & Overy has advised the underwriters on the initial public offering (IPO) and listing of ADNOC Gas Plc (ADNOC Gas) on the Abu Dhabi Securities Exchange (ADX).

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Inside of an ethylene cracker plant

News: 22 February 2023

Allen & Overy advises lenders on INEOS’ EUR3.5bn financing

London – A&O advised the lenders and export credit agencies on a greenfield project financing for the construction of an olefin complex in the Port of Antwerp, Belgium.

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Publications: 18 November 2022

UK sanctions against Russia: the pressure intensifies

The UK Government has introduced two further packages of sanctions against Russia in quick succession. 

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Reflection of clouds and sky on modern glass building

Publications: 19 October 2022

Introduction to the EU’s Emissions Trading System

The EU Emissions Trading System (the EU ETS) is one of the key pillars of the EU’s policy to combat climate change and to reduce greenhouse gas emissions from regulated sectors.

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