We advise on the full range of project finance and finance matters across the Middle East. As a critical part of our award-winning Project Finance group, our Middle East Projects & Finance team represents clients in a wide variety of sectors, including power, oil and gas, renewable energy, mining, roads and motorways, ports, petrochemicals, wind, water and wastewater treatment, and industrial and other infrastructure facilities.
We represent developers, sponsors, investors, contractors, operators, governments and public agencies, commercial and investment banks, and bilateral and multilateral agencies.
We advise on the full range of project finance and finance matters, including senior and subordinated lending, equity investments and leveraged lease transactions, as well as all phases of major projects, from inception to completion and post-closing integration, including bidding and tender processes, the structuring and financing of consortiums and the negotiation and execution of project documentation. Our Middle East team works closely with our offices in the US and Latin America, continental Europe, the People’s Republic of China and Southeast Asia, and is well-positioned in representing clients on major projects across jurisdictions in the Middle East and beyond.
- Advised The Dow Chemical Company in relation to the construction of an Acrylic Acid Complex (through a consortium that includes Aramco, the Dow Chemical Company, SABIC, Evonik Industries and other companies) in Saudi Arabia at an estimated cost of US$2.1 billion, including advising on the drafting and negotiation of the upstream and downstream agreements relating to the feedstock and its downstream derivatives as well as the construction/projects-related agreements, including EPCs, Offtake, Marketing and Bridging Agreements.
- Represented Lockheed Martin on a significant procurement project for an air academy in Qatar.
- Represented Lockheed Martin on a large offset project in the Kingdom of Saudi Arabia.
- Represented KEPCO in connection with its more than US$20 billion award of the nuclear power plants in the UAE.
- Advised on the bid by a consortium led by Hong Kong Electric International and Cheung Kong Infrastructure for the Al Hidd Independent Water & Power Project, which has a capacity of 694 MWs and a 4x7.5 MiGD multi-stage flash desalination plant located in Manama, Bahrain.
- Represented an official lender in connection with the development of the Qarun oil and gas concession in the western desert area of Egypt.
- Advised Vetra Energia on its negotiation of a PSC participation in Kurdistan.
- Representing Excelerate Energy in the development of a floating regasification facility in Namibia.
- Represented British Petroleum, subsequently Ineos, in connection with the development of a US$4.5 billion petrochemical plant in Saudi Arabia, including the construction of an ethane cracker and derivative plant. Advice included: (a) advising the sponsor on the development, structuring, financing and construction issues,(b) advising on the off take arrangements as well as licensing and know-how for proprietary processes for the cracker,(c) drafting and negotiation of the project documentation including EPC contracts and the project management contract, onshore/offshore versions plus coordination agreements for the main construction documents and security documents in the form of direct agreements, PCGs and performance bonds, and (d) advising on the environmental aspects of the project, including the application of the Equator Principles for assessing and managing social and environmental risks and availability of insurance coverage.
- Advised Genel Energy International on the US$4.2 billion merger with Vallares PLC creating a London-listed oil and gas champion focused on the Kurdistan Region of Iraq.
- Represented The Eastern Petrochemical Company (SHARQ), a joint venture between Saudi Arabia Basic Industries (SABIC) and a Mitsubishi-led Japanese consortium, in a US$3.5+ billion petrochemical plant expansion and financing in Jubail, Saudi Arabia.
- Represented all of the lenders, the Export-Import Bank of the United States, Korea Eximbank and Korea Trade Insurance Corporation (KSure), on the project financing of a US$4 billion petrochemical project in Egypt. The project will be located in Ain Sokhna on the Red Sea coast of Egypt, and involves the development of a naphtha cracker and polyethylene complex to produce a broad spectrum of petrochemicals and polyolefins for domestic consumption and export, including HDPE, LLDPE benzene and butadiene.
- Represented the International Finance Corporation and the Netherlands Development Finance Company in their investments in Egyptian Refining Company SAE, which is developing the US$3.7 billion, 5 million TPA Mostorod refinery project coking facility in Cairo, Egypt.
- Represented the Export-Import Bank of the United States (Ex-Im Bank) as lender/ guarantor in the US$540 million financing of a 1,250 tbd anhydrous natural gas-to-ammonia plant in Suez, Egypt. This was one of the first private (non-government sponsored) petrochemical transactions in Egypt and the first project financing in Egypt supported by Ex-Im Bank.
- Represented a bank syndicate in a secured credit facility for an aircraft-operating lease to an Egyptian carrier.
- Represented a syndicate of banks agented by Chase Manhattan in connection with the development of several oil fields in Egypt owned by Apache Corporation, and a related refinancing transaction.
- Represented a German Bank in connection with the development of an 88,000
TPA magnesium smelter in the Suez industrial area in Egypt.
- Acted for the successful concessionaire on a US$170 million project to design, build, operate and finance a new oil terminal at the Port of Aqaba in Jordan.
- Advised a contractor bidder on tender documents relating to an EPC contract for air separation units for the world’s largest gas-to-liquid plant project in Qatar.