April 05, 2011
Infrastructure Journal named the Papua New Guinea liquefied natural gas (PNG LNG) project “Global Deal of the Year” in its 2010 awards. Latham & Watkins served as international counsel to the financiers, which included six credit export agencies and 17 commercial banks in connection with the $14 billion financing of the PNG LNG project, which Infrastructure Journal described as a “milestone deal” and “the largest project finance transaction ever.”
The Latham & Watkins cross-border deal team was led by London partner Bill Voge, together with partners Simon Dickens and Dennis Nordstrom in London, Jonathan Rod in New York and Stephen McWilliams in Singapore.
According to Infrastructure Journal, “the funding template behind PNG LNG is now being looked at very closely by the sponsors behind several major LNG projects currently in development across the Asia-Pacific region. Many argue that these deals are benefiting from the increased market confidence PNG LNG has given the local market with such a challenging deal.”