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Allen & Overy advises on Asia’s first integrated LNG-to-power project

 

18th December 

Allen & Overy has advised development financial institutions, Japan Bank for International Cooperation, Nippon Export and Investment Insurance, Asian Development Bank as well as mandated lead arrangers, MUFG Bank, Ltd, Crédit Agricole Corporate & Investment Bank, Mizuho Bank, Ltd, Oversea-Chinese Banking Corporation Limited and Société Générale (“the Lenders”) on Asia’s first LNG-to-power project and one of the largest LNG-powered plants in Southeast Asia.

The Jawa-1 Project, valued at USD1.8 billion, will be located in Indonesia and will combine a 1760 MW combined cycle gas turbine power plant with a supporting floating storage and re-gasification unit (“FSRU”), together with gas and transmission lines.

Allen & Overy advised on all aspects of the project documents (including EPC) as well as reviewing the LNG supply agreements and FSRU time charter agreements for the Lenders. The team also advised on navigating the complexities involved with an integrated project, with layers of “project on project risk”.

Partner Matthias Voss commented “This landmark project is likely to be used as an important precedent for future LNG-to-power projects that are currently planned elsewhere in South and Southeast Asia, including in Myanmar, Bangladesh and Sri Lanka. Allen & Overy is at the forefront of LNG-to-power projects and is setting the pace on the development of regional structures for these projects and the related financing documentation”.

The Allen & Overy team comprised lawyers from our Jakarta, Tokyo, Singapore, Hong Kong and Seoul offices and was led by partners Matthias Voss, Scott Lovell, Michael Tardif and Scott Neilson. They were supported by associates Hitomi Komachi, Grant Jenkins, David Rho, Ari Bessendorf, Deska Widianto, Ferhat Afkar, Nadya Renatta, Nitra Anggi Nuremira, Sam Samid, Brenda Migwalla, Kuda Chirambadoro, Andrew Duncalf and Aaron Chiong.  

For further information, please contact Madhu Mirpuri (madhu.mirpuri@allenovery.com​) on +852 2974 7737.​​

 

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