Jack Smith is a partner at Gornitzky & Co. and leads the Energy & Natural Resources team and the Infrastructure & Project Finance team.
Due to his experience, negotiating skills and business orientation Jack is also sought after to represent clients in international business transactions, most recently in the fields of hotels and mass transit (both rail and bus).
Jack was born and raised in New York, where he graduated from Yeshiva University prior to making “Aliyah” to Israel in 1981. After arriving in Israel, Jack completed Bar Ilan Law School in 1984.
Jack has represented the firm’s clients in the following matters:
Oil and Gas Exploration
- Representation of offshore leaseholder of a large offshore gas reservoir in Israel in a project for a major expansion of the reservoir and construction of additional significant upstream and midstream infrastructure;
- Representation of Capricorn Energy (formerly Cairn Energy) in the proposed acquisition of a 22% interest in the Tamar field for circa USD1billion;
- Representation of client in connection with major gas export transaction, including the acquisition of pipeline rights and an inter- reservoir arrangement;
- Representation of Woodside Petroleum in the proposed acquisition of a 30% interest in the Leviathan field for up to USD 2.25 billion;
- Representation of Non-Operators of the “Tamar” field in the first Gas Balancing Agreement made in Israel;
- Representation of Capricorn Energy in connection with 8 offshore drilling licenses in Israel;
- Advising a client in JOA issues concerning the Leviathan field;
- Advising a client in JOA issues concerning the Tamar field;
- Representation of client in EPCI contract for FPSO;
- Representation of client in the negotiation of “Leviathan” offshore gas lease;
- Representation of client concerning oil and gas leases in Gulf of Mexico.
Natural Gas / Fuel Supply
- Representation of a consortium of comprised of Oil Refineries Ltd., Israel Chemicals Ltd. and OPC Energy Ltd. (owner of two IPPs), in a transaction for acquisition of natural gas valued in excess of USD 5 billion on long term take or pay contracts with Energean Ltd., the holder of offshores leases, which was Israel’s largest private sector gas transaction to date;
- Representation of Israel Chemicals Ltd. in bridge supply agreements with the “Tamar” and Leviathan reservoirs.
- Representation in 2012 of consortium of companies of the Israel Corporation Group owning chemical plants, refineries and IPPs in a transaction for acquisition of natural gas valued in excess of USD 5 billion, from the “Tamar” Group;
- Representation of major gas buyer in short term bridge supply agreement with advance payments for future reservoir development;
- Representation of Paz Petroleum, Israel’s largest oil marketing company, in substantial fuel supply agreement with the Palestinian Authority;
- Representation of largest customers of distribution/low pressure network in connection with gas distribution and supply agreements;
- Representation of a major IPP in procuring diversified long term gas supply from 3 offshore reservoirs.
Power Generation
- Extensive experience regarding IPP’s, including negotiating power purchase agreements with local utility, private power PPAs and EPC, LTM, O&M contracts and gas supply contracts in connection therewith;
- Representation of three 400MW IPPs;
- Representation of 4 co-generation plants;
- Representation of developers of two major IPPs (630MW CCGT and 80MW co-gen plant).
Regulatory
- Ongoing representation of major IPPs in regulatory disputes and hearings regarding; grid connection, grid capacity, regulation of unconventional power sales, back-up fuel requirements, grid support and pricing in cases of gas interruption;
- Representation of a Co-gen plant regarding a dispute with the regulator on steam measurement;
- Representation of major industrial gas consumers before Knesset Committee regarding enactment of Natural Gas Sector law;
- Representation of a major IPP in hearing with regulator and decisions with the System Manager, for adapting historic PPA to modern regulatory regime;
- Representation of IPP’s in developing regulatory framework for private power sales in Israel;
Representation of IPP’s in developing regulatory framework for solar power project development in Israel; - Representation of consortium of major gas buyers in antitrust hearings regarding interruptible contracts;
- Representation of the largest consumers of distribution network in agreeing to terms in standard distribution agreement and modifying regulations;
- Representation of major IPP in contesting regulatory decision to impose system charges;
- Advising major gas buyers and major international upstream investor regarding consent order decree relating to the Israel upstream market;
- Advising clients regarding establishment of new regulatory framework for Israeli upstream market;
- Representation of IPP in regulatory settlement regarding tariff payments due to utility;
- Representation of IPP in transaction for export of electricity to Jordan.
Private Electricity Sales
- Extensive experience in private electricity transactions, including representation of IPPs in sales to major industrial consumers;
- Representation of major desalination plant in electricity supply contract;
Representation of buyers owning multi-site facilities in acquisition of electricity from IPPs; - Representation of IPP in long term power and steam supply from a co-generation plant;
- Representation of IPPs in numerous Capacity and Energy PPAs with Israel Electric Corporation.
Financing
- Representation of IPM Ltd. In NIS 2.3 billion project finance loan for a 440MW CCGT;
- Representation of OPC Rotem Ltd. in USD 320 million project finance loan, for a 440MW gas fired IPP;
- Representation of Arava Power in USD 30 million project finance loan for 5MW photovoltaic field;
- Representation of owner of IPP in a USD100 million equity refinancing.
M&A
- Representation of Israel Corporation in acquisition of a portfolio of power generation in Latin America for close to $600mm;
- Representation of a large international E&P Company in a potential stock merger with the owner of an offshore lease in Israel;
- Representation of client in acquisition of 25% stake in Pumped Storage Plant;
- Representation of client in acquisition of 50mw of co-generation power plant;
- Representation of buyer in acquisition of control of 400MW IPP;
- Representation of seller in sale of control of 400MW IPP;
- Representation of seller in private placement of minority stake in IPP to private equity fund;
- Representation of IC Power in acquisition of 120MW co-generation plant;
- Representation of IC Power in acquisition of 400MW Peaker plant;
- Representation of client in issuance of preferred shares to finance construction of FPSO in the Gulf of Mexico.
EPC/ LTSA
- Representation of two IPPs for EPC and LTSA Contracts for 440MW CCGTs;
- Representation of two Cogen Developers in EPC and LTSA contracts;
- Representation of IPP in EPC Contract for 400MW open cycle peaker plant;
- Representation of Cogen developer in restructuring EPC contract following financial difficulties of EPC Contractor;
- Representation of IPP in LTSA for 120MW steam turbine powered from renewable energy.
Dispute Resolution
- Representation of IPP in claim against turbine supplier regarding defect discovered during acceptance tests;
- Representation of Cogen developer in damages claim against EPC contractor;
- Representation of an ORRI holder in a multi-million dollar dispute in interpretation of Royalty Deed;
- Representation of consortium of gas buyers in negotiations for termination of multi-billion dollar GSPA;
- Representation of major IPP in settlement of delay claims against an offshore gas supplier;
- Representation of Israel Chemicals and Oil Refineries Ltd. in settling force majeure/shortfall claims under GSPAs;
- Representation of IPP in LCIA Arbitration GSPA price indexation dispute;
- Representation of large multinational company in arbitration proceedings concerning a long term LTSA.
Renewable Energy
- Representation of major photovoltaic solar power developers in Israel;
- Representation of bidders in 200MW Solar Thermal Tender published by the State of Israel;
- Representation of developers of solar thermal fields based upon feed in tariff;
- Representation of infrastructure fund in acquisition of solar projects in Italy;
- Representation of supplier of batter units in Israel.
