Xiang (Jerry) Li

Xiang (Jerry) Li is an energy market, quantum/valuation, and damages expert with nearly twenty years of experience across the energy industry, including midstream gas (pipeline and storage), power and renewables, liquefied natural gas (LNG), and natural gas markets. Mr. Li has led and participated in over a dozen international arbitrations involving investor-state and commercial disputes under the auspices of LCIA, ICC, ICDR, ICSID, and UNCITRAL; and in over a dozen domestic litigations, providing expert consulting and damages analysis on complex energy and financial matters.

Mr. Li’s expertise in quantum damages includes evaluation of expectation damages (i.e., benefit-of-the-bargain), reliance damages, and restitution/disgorgement-based measures in complex commercial disputes. He routinely conducts financial pro forma analyses to assess both historical and forward-looking damages under these frameworks, including the incremental cost or lost profits relative to contractual expectations. He is well versed in valuation-related analyses, employing the income approach (e.g., discounted cash flow (DCF), weighted average cost of capital (WACC), adjusted present value (APV)), as well as the market approach, asset/cost approach, and real option approach, among others. Mr. Li also specializes in energy infrastructure project financing and modeling (including off-balance-sheet financing) and credit risk analysis. He possesses extensive experience in power and gas market analyses encompassing energy market models, risk and probability analyses of energy prices (including stochastic, Monte Carlo analysis), and due diligence and other economic evaluations.

Mr. Li has been involved as a business advisor in investment advisory projects for global and national energy companies, midstream companies, utilities, independent project developers, equity investors, and banks. These projects have encompassed energy assets including oil and gas pipelines, natural gas storage facilities, LNG facilities, transmission lines, hydrogen production facilities, crude oil and natural gas liquids (NGL), NGL fractionation plants, merchant thermal power plants (e.g., coal and natural gas–fired power plants), and renewable energy (e.g., wind, solar, hydrogen, and renewable natural gas).

With his decades of energy industry and financial valuation expertise, Mr. Li brings strong capabilities and insights in quantum and damages analysis, as well as energy market modeling, energy asset evaluation, financial damages and valuation analysis, and market transactions. He holds an MBA in finance from George Washington University and is a CFA Charterholder.