At INEOS Energy we produce and trade oil, gas, power and liquefied natural gas (LNG). This is supported by our investments in low carbon technologies, which will help sustain our business through the energy transition. Direct examples of these areas are ‘Project Greensand’, our pioneering carbon storage project in the Danish North Sea, and our investment in HydrogenOne Capital Growth plc.
The Legal Counsel will provide crucial support for this rapidly growing business, enabling it to enter new markets and put together new deal structures with a proper understanding of the legal risks, a considered mitigation of those risks where possible and in full compliance with all applicable laws and regulations.
RESPONSIBILITIES & ACCOUNTABILITIES
The successful candidate will be the primary point of contact for the Energy Trading business for the majority of its day-to-day trading and compliance matters and for the majority of its new business.
They will report to the Head of Legal and Compliance for Energy Trading and will work very closely with the Trading Director, the various trading desks and their support departments and with other members of the Legal and Compliance team.
They will:
- Provide legal and compliance-related support for the business, including all day-to-day trading support
- Draft trading agreements and supporting documents such as sale & purchase agreements, charterparties, licence agreements, joint venture agreements and storage agreements
- Negotiate physical and financial master trading agreements (such as EFETs, ISDAs and IETAs)
- Advise on and manage the trading compliance aspects of the business (such as market abuse) and regulatory aspects (such as licensing and reporting obligations) as well as keeping up to date with relevant changes in the compliance landscape
- Handle the majority of the business’s trading disputes
- Provide wider legal advice to the business relating to corporate, commercial and regulatory matters
- Share legal knowledge by producing know-how that non-lawyers can readily understand
- Assist other INEOS businesses and projects with specialist knowledge and expertise as relevant.
SKILLS KNOWLEDGE & EXPERIENCE
Education/Experience
Qualified solicitor with at least 4 years of hands-on commodity trading experience, at least some of which will have been gained at a well-respected trading house (whether employed there or on secondment).
Skills & Knowledge
- In depth knowledge of legal issues involving commodities, preferably including both physical and financial gas, power, LNG, oil and carbon products.
- Knowledge of the main standard master trading agreements (EFETs, ISDAs, oil GTCs) and experience in drafting and negotiating more bespoke arrangements, including sale and purchase agreements, storage agreements and joint ventures.
- Ideally, some shipping experience, including time charters of bulk vessels.
- Dispute resolution.
- Excellent drafting and negotiation skills.
- Knowledge of and experience in Compliance and Regulatory matters, including REMIT, EMIR, MiFID II, Market Abuse Regulations, competition law and sanctions issues.
Preferred Software Experience
Standard office systems (Word, SharePoint)
Behavioural skills
- Hands-on, practical approach to resolving legal issues
- Positive, “can do”, solution-based attitude
- Ability to see the wood for the trees
- Strong communication skills, both written and oral, with the ability to deal with complex issues in a straight-forward way
- A team player who enjoys facilitating and enabling the work of others
- Organised, methodical, thoughtful, ability to work under pressure
- High ethical standards
- Awareness of market trends, geopolitical developments and economic indicators that impact trade