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Financing arrangements in the energy sector need to be compatible with unique regulatory, cross-jurisdictional issues, as well as with the special characteristics of the industry and energy markets. Our consultants have extensive experience of working with funders, developers, utilities, operators and other stakeholders in the relevant industries.  Examples of our consultants' experience are as follows:

  • Advised an oil major in relation to the financing of a cross-border subsea natural gas pipeline, involving conventional and Islamic project finance totalling US$3.45BN. The US$1BN Islamic tranche was based on an Islamic Istithna'a (commissioned manufacture) instrument and was the largest Shari'ah-compliant funding to be completed in the oil and gas sector at the time.

  • Advised the senior lenders in relation to various independent power projects, including merchant power plants, in the UK and Europe.

  • Advised an international energy company in relation to the limited recourse financing of an LNG carrier, the financing being based on revenues from a long term charter party with a power project (itself also project financed).

  • Advised an energy company in relation to structuring for a prospective project financing of a project to develop a multiproduct pipeline on a build-operate-lease-transfer (BOLT) basis.

  • Advised the senior lenders (European Bank for Reconstruction and Development and DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH) for syndicated non-recourse term loan facilities to finance the construction of water treatment facilities in connection with a concession granted by the City of Bucharest.

  • Advised BNP Paribas as senior lender on the Dalmuir Wastewater Project, the UK’s largest single-scheme water treatment project to be project financed with a value of approximately £80M.

  • Advised Bayerische Landesbank (as arranger) in relation to the provision of senior loan facilities for the purposes of the HMP Onley DCMF Project to design, construct, manage and finance prison accommodation.

  • NIB Capital and Dexia Public Finance Bank in relation to the provision of senior loan facilities in connection with the Barnet Hospital PPP project for the construction of hospital accommodation and provision of IT, facilities management and other non-clinical services.

  • Advised a bank as arranger of limited recourse loan facilities and related derivative transactions (including swaption) in connection with the funding of the new Oceanic Air Traffic Control System for National Air Traffic Services Limited (NATS), a public corporation responsible for air traffic control, in relation to the Shanwick Oceanic Control Area.

  • Advised a bank as arranger of the lease financing on a limited recourse basis of an IT system for the Armed Forces Personnel Administration Agency (AFPAA), an executive agency of the UK government providing pay, pensions and personnel administration services to the British Armed Forces.

  • Advised Standard Bank as arranger of an adjustable borrowing base revolving credit facility for the development of offshore oil fields located in West Africa.

  • Advised a bank as lead arranger of syndicated non-recourse revolving/borrowing base loan facilities to finance oil and gas developments in the UK and Dutch sectors of the North Sea.

  • Advised First Reserve, a U.S. private equity fund, as the principal equity participant in an investment vehicle for participations in North Sea gas fields in relation to limited recourse senior debt facilities. The purpose of the facilities was to fund the acquisition and development of gas field participations.

  • Advised the holder of the majority interest in an Irish gas field in negotiations with a bank for limited recourse senior loan facilities to finance the development of the field (including construction of a pipeline).

  • Advised Fortum and Lukoil as sponsors of a major oil field development in northwest Russia in negotiations with senior lenders (EBRD - European Bank for Reconstruction and Development and HypoVereinsbank) for syndicated limited recourse loan facilities.

  • Advised the European Investment Bank (EIB) as senior lender on the elaborate financing structure required to accommodate the complex relationship between the financing parties (that is, EIB, the various commercial banks and the Greek State) on this €1.3bn BOT motorway project. This high-profile project has received many awards including Privatization International's “PPP Deal of the Year”.

  • Advised the Welsh Office, on its first concession-based BOT scheme, which comprised the design, building, operation and maintenance of the A55 trunk road forming part of the EU "Trans-European Network" (TEN) programme (value: £120M). The basis of the lending was a UK sovereign "shadow toll" revenue stream with performance-related adjustments.