Oil and gas are key drivers of the world economy and the technical, commercial and legal applications which support their exploitation are becoming increasingly sophisticated. This new edition of our best-selling title outlines in a single volume the essential principles involved in documenting oil and gas transactions, from the upstream exploration phase to transportation by pipeline and liquefied natural gas to sales and marketing. It is intended as a practical guide for anyone seeking a better understanding of the commercial and legal principles involved. Edited by Geoffrey Picton-Turbervill, head of the global energy team at international law firm Ashurst in London, the fully updated second edition features contributions from leading practitioners including experts at Shell, Hogan Lovells, King & Spalding and Ashurst. New to the second edition are chapters on shale gas and on farm-ins and farm-outs. Whether you are a lawyer in private practice or in industry, a commercial negotiator or from a financial institution or energy advisory practice, this title will provide a comprehensive insight into the oil and gas business.