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This book concentrates on the recent developments in EC policy and legislation affecting energy industries. The practical consequences of current and proposed legislation on the oil and gas industry are emphasized. The increasing role of environmental regulation and its potential impact on the energy industries is discussed in the light of current and proposed legislation, and the case law of the European Court of Justice is highlighted in this regard. Particular emphasis is also placed on recent issues of key concern to the oil and gas industry, including: abandonment, unitization, sole risk and non-consent and planning considerations. New forms of energy financing, including the use of derivative instruments, are also closely examined.