Representative Transactions

Turner Commodities Law, PLLC advises on transactions that sit at the intersection of trading, structured finance, and the energy transition. The matters below illustrate the types of work handled and the breadth of experience brought to trading desks, risk committees, and senior management. In addition, TCL can meet your broader coporate legal transactional and documentary needs.

Trading & Structured Supply

• Structured physical power and gas supply arrangements for generators, retailers, and large industrial load, including shaped and firm requirements transactions and associated hedging.
• Long-term natural gas and NGL supply, transportation, and storage structures supporting merchant generation, midstream assets, and industrial facilities.
• Structured crude and refined products offtake and supply transactions, including pricing, credit, and operational risk allocation.

Asset Management & Tolling

• Asset management agreements and tolling arrangements for gas-fired generation assets, addressing dispatch rights, optimization strategies, and revenue-sharing mechanisms.
• Transactions allocating optimization and balancing risk across marketers, generators, and load-serving entities in organized and bilateral markets.
• Documentation aligning commercial strategies for storage, transport, and generation assets with internal risk limits and regulatory requirements.

Derivatives & Structured Products

• Negotiation of ISDA, EEI, NAESB, and bespoke master trading agreements for physical and financial power, gas, LNG, NGLs, crude, refined products, and related commodities.
• Design and documentation of options, swaps, and other derivatives used to manage volumetric and price risk for generators, retailers, and industrials.
• Structured prepay, repo, and other finance-linked commodity transactions integrating trading, credit, collateral, and bankruptcy considerations.

Energy Transition & Renewables

• Virtual power purchase agreements (VPPAs) and related renewable power structures supporting corporate decarbonization and risk management objectives.
• Transactions involving renewable energy certificates and other environmental attributes, including monetization structures and compliance-linked products.
• Structured and negotiated a medium-term supply, intermediation, and marketing arrangement involving various hydrogen-derivative products on behalf of global trading company
• Structured arrangements linking conventional commodity flows with low-carbon or transition-focused products.

Credit, Collateral & Risk Management

• Development and negotiation of credit support provisions across master trading agreements, structured transactions, and financing arrangements.
• Margin, collateral, and netting structures integrating trading, treasury, and corporate liquidity requirements.
• Documentation and governance frameworks supporting risk limits, stress scenarios, and margin call procedures for trading organizations.