CMS：欧洲能源行业急于整合和出售资产

据美国油价网报道，国际律师事务所CMS公布的一项调查结果显示，欧洲能源行业急于整合和出售资产。 

根据这项调查，四分之三的欧洲能源公司今年都在考虑进行收购或撤资。 然而，调查报告的作者指出，约45%的人认为，疫情将是今年欧洲能源行业并购或撤资活动的一个重大障碍。 不过，仍有谨慎的乐观主义者认为，形势是动态的，在合适的条件下，这一障碍可能很快消失。

CMS能源与气候集团负责人穆尼尔·哈桑表示：“随着越来越多的利益相关者将重心从碳密集型资产转移，绿色转型将推动对可再生能源、能源效率和清洁能源解决方案的投资加速。”“但对于回报率较短的灵活投资者来说，从中期来看，传统化石燃料领域仍有许多宝贵的投资机会。”

调查报告指出，在转型势头日益强劲的环境下，油气生产商别无选择，只能转向低碳能源领域，并剥离一些传统资产，成为能源领域并购或撤资活动增加的推动力。

调查报告的作者说，“对于油气巨头来说，这一(转型)意味着收购或大幅提高它们在可再生能源(包括风能、太阳能和氢气)方面的能力，同时剥离选定的碳密集型资产，以应对日益增长的ESG压力。 这可能是为什么在我们的研究中，50%的受访者指出，困境驱动的交易是卖方的最大驱动力。”  

李峻 编译自 美国油价网

原文如下：

European Oil Industry Rushes To Consolidate

The European energy industry is eager to consolidate and sell assets, a survey by international law firm CMS.

According to the survey, three-quarters of energy companies in Europe were considering an acquisition or a divestment this year. Some 45 percent, however, believe that the pandemic would be a significant obstacle to merger and acquisition activity this year, the authors of the report noted. Still, there is cautious optimism that the situation is dynamic and this obstacle could quickly disappear given the right conditions.

“The green transition will drive an acceleration of investment in renewables, energy efficiency and clean energy solutions, as more and more stakeholders pivot away from carbon-intensive assets,” said Munir Hassan, head of the CMS Energy & Climate Group. “But for nimble investors, with shorter return horizons, there are lots of valuable investment opportunities in traditional fossil fuels in the medium term.”

In this environment of growing transition momentum, oil and gas producers have little choice but to diversify into low-carbon energy and divest from some traditional assets, becoming drivers of the increased M&A activity in the energy space, as suggested by the report.

“For the oil and gas majors, this [the transition] means acquiring or significantly enhancing their capabilities in renewables, including wind, solar and hydrogen, while simultaneously divesting selected carbon-intensive assets in response to mounting ESG pressures. This may be one of the reasons why 50% of respondents in our study point to distress-driven deals as a top sell-side driver,” the report’s authors said.