King & Spalding advices BW Gas in Egypt LNG project
SINGAPORE, August 7, 2015
King & Spalding, a leading international law firm, has advised BW Gas in connection with its tender to provide Egyptian Natural Gas Holding Company (EGAS) with LNG regasification services utilising a floating storage regasification unit (FSRU) in Ain Sokhna, Egypt.
BW's FSRU, named ‘BW Singapore,’ built at Samsung Heavy Industries (SHI) in Korea, will be utilised for this project and will offer an environmentally friendly and efficient solution to EGAS at a strategically important juncture for a country facing a chronic gas shortage, said a statement.
Local demand has increased significantly in recent years against a backdrop of declining domestic production, it said.
The FSRU has storage capacity in excess of 170,000 cu m and a peak regasification capacity of 750 million standard cu ft per day.
The BW Singapore will be delivered by the end of September in Ain Sokhna Port and will commence operations in October.
BW is a leading international gas shipping company with more than 75 years of maritime energy transportation history and 40 years of operational experience in LNG, said the statement.
BW's current fleet consists of 21 LNG carriers including new-builds, and BW is a leading owner and operator of Very Large Gas Carriers and a leading player in tankers and floating storage and offloading units (FPSOs).
The King & Spalding legal team representing BW Gas was led by energy partners Dan Rogers (Houston/Singapore) and Merrick White (Singapore) and energy associate Nick Kouvaritakis (Singapore).
Further assistance was provided by arbitration partner Elodie Dulac (Singapore), arbitration associate Kevin Lim (Singapore), energy associate Ji-Nin Loh (Houston), finance partner Nabil Issa (Dubai/Riyadh) and finance senior associate Simon Rahimzada (Abu Dhabi).
Ken Culotta, head of King * Spalding’s Global Transactions Practice, said: ”This is an important project for BW Gas as it enters the ever-growing Middle-East LNG regasification and storage market.
"That market has expanded significantly in recently years, with floating regasification projects having already commenced operations in Jordan, Kuwait and the UAE. We are delighted to have been given the opportunity to advise BW Gas on this landmark project." - TradeArabia News Service
