Mayer Brown has advised CLP Power Hong Kong Limited in connection with the Hong Kong Offshore Liquefied Natural Gas (LNG) terminal project, which involves the use of floating storage and regasification unit (FSRU) technology for the first time in Hong Kong. The FSRU will receive, store, and regasify LNG into two separate subsea gas pipelines to supply natural gas to Castle Peak Power Company Limited and Hongkong Electric Co., Ltd., generating power for Hong Kong residents.
Mayer Brown advised CLP Power Hong Kong Limited on the FSRU charter and regasification agreement
s and operation and maintenance services to be provided to the offshore LNG terminal with Mitsui OSK Lines (MOL), one of the world's largest shipping operators. MOL will be responsible for providing the operations and maintenance services of the FSRU vessel and the offshore LNG terminal.
The Mayer Brown team was led by LNG practice leader (Asia) Nick Kouvaritakis in Singapore and included partner Nathan Dodd and senior associate Matthew Chow (both Singapore), partners - Thomas Moore (Houston) and Menachem Hasofer (Hong Kong).
The Hong Kong Offshore Liquefied Natural Gas (LNG) terminal project is part of the Hong Kong government's strategy to have 50 percent of Hong Kong's electricity generated from natural gas beginning in 2020.
Mayer Brown has established itself as a go-to law firm in the LNG sector, with extensive experience advising on upstream project development, midstream regas and transportation and downstream sales arrangements. The firm has represented clients in a number of LNG import projects, including the Jawa-1 LNG to power project, which involved a major 1.76GW combined-cycle gas-fired power plant in West Java, Indonesia. That project resulted in the "Deal of the Year for Project Finance" award at the International Financial Law Review (IFLR) Asia Awards 2019.