Mayer Brown has achieved significant success at the IJGlobal Awards 2023 for Asia Pacific, winning the "Oil & Gas Deal of the Year - LNG Terminal" award for advising on Hong Kong's first liquefied natural gas (LNG) terminal.
Mayer Brown advised the project developer, Hong Kong LNG Terminal Limited (HKLTL), a joint venture between Castle Peak Power Company Limited(CAPCO) and TheHongkong Electric Co., Ltd. (HK Electric), on all aspects of its offshore LNG terminal project, which received its commissioning cargo in May 2023. The facility is the largest offshore energy project in Hong Kong and utilizes the world's largest floating storage and regasification unit (FSRU), the Bauhinia Spirit. It provides CAPCO and HK Electric with direct access to international LNG markets and enhancing Hong Kong's natural gas supply stability by diversifying supply sources and enabling procurement of LNG at competitive prices from the global market. It also marks a significant step towards carbon neutrality as part of Hong Kong's Climate Action Plan 2050.
The Mayer Brown team was led by Nick Kouvaritakis, partner and global head of LNG, working with Sean Prior, partner, and a predominantly Singapore-based team.
Mayer Brown's Global LNG team has extensive experience on all aspects of LNG projects and has represented owners, charterers and lenders on the acquisition, chartering, construction and financing of FSRUs and LNG carriers, sponsors and lenders on the development of LNG to power projects, purchasers and sellers under LNG SPAs, and equity investors and project participants on the acquisition and disposition of interests in all such assets and projects.
The IJGlobal Awards 2023 recognize greenfield and refinancing deals completed worldwide in 2023 across the many different sectors that make up the infrastructure and energy industries.