Ashurst has advised Japan Bank for International Cooperation (JBIC), Korea Ex-Im Bank (KEXIM), Nippon Export and Investment Insurance (NEXI) and a number of commercial banks on the US$ 2.8 billion financing for the Donggi-Senoro LNG project in Indonesia.
The lenders included JBIC, KEXIM, Mizuho Corporate Bank, Bank of Tokyo Mitsubishi, Sumitomo Mitsui Banking Corporation, Korea Exchange Bank and NongHyup Bank.
Scheduled to commence production in mid-2015, the project will have production capacity of 2 million tpa of LNG, with offtake to Korea Gas Corporation, Chuba Electric Power and Kyushu Electric Power.
The Ashurst team is being led by Matthias Schemuth and John McClenahan.
Commenting on the project, Matthias Schemuth said: "As Indonesia’s fourth LNG deal and the first to adopt the separate upstream and downstream development model applied following a change of law, this is an exciting project on which to work. Indonesia is currently the world's fourth largest LNG exporter and this is one of several major gas infrastructure projects that we meet increased energy demands in the region. Being mandated on a project of this kind reflects Ashurst's strength in both oil and gas sector and the Indonesian market."
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/19112014/ashurst-advises-banks-on-lng-financing-1818/