Norton Rose Fulbright has announced that it recently advised JX Nippon Oil & Energy Corp. on its acquisition of a 10% stake in Petronas LNG 9 Sdn Bhd (PL9SB), valued at more than US$400 million.
JX and Petronas signed a marketing support agreement, as part of the transaction.
PL9SB, a wholly owned subsidiary of Petronas, owns the ninth LNG liquefaction train within the Petronas LNG Complex in Bintulu, Sarawak, Malaysia. The train has a production capacity of 3.6 million tpy and is expected to commence commercial operations in 1Q17.
The deal was led by Norton Rose Fulbright Partner, Michael Joyce, who said: “We were pleased to have assisted JX Nippon on this important regional acquisition that will further its interests in the LNG liquefaction industry. The deal reflects the bright future for the oil and gas sector in the Asia-Pacific, and drew from our experience in two of our global priority industry areas of energy and transport.”
Mr Joyce was assisted by Senior Associate, Kathryn Martin, who is based in Sydney, Australia. The Sydney team worked with local Malaysian law firm, Skrine, to complete the deal.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/18082016/norton-rose-fulbright-advises-jx-nippon-2919/