Project Development & Finance Practice Recognized with Three Deal of the Year Awards

The Project Development & Finance Practice has been recognized for their exceptional work advising on solar, liquefied natural gas, and midstream oil & gas transactions in the North American region. IJGlobal describes their awards as a celebration of “the best in-class transactions and organizations across the international infrastructure and energy sectors.”

The winning projects include:

• North America Solar Deal of the Year – Recurrent Energy Module Safe Harbor Loan: Latham advised Recurrent Energy in connection with this solar equipment supply financing, which was put in place to finance the acquisition of solar equipment intended to qualify a pipeline of development solar projects for the 30% investment tax credit.
• North America LNG Deal of the Year – Calcasieu Pass LNG: Latham represented Venture Global as sponsor in connection with the $5.8 billion debt and $1.3 billion equity construction financing of the 10 MPTA LNG liquefaction and export facility located in Cameron Parish, Louisiana and associated TransCameron pipeline. This is the largest project financing to close globally in 2019 and is the first of the “second wave” of US LNG projects to be financed. The project will include an LNG production and export facility with nine 1.2 million ton liquefaction blocks, three pre-treatment trains, two ship loading berths, a 720 MW combined cycle gas turbine power plant, two 200,000 cubic meter full containment LNG storage tanks and a 42-inch diameter, 24-mile-long lateral pipeline. The project has 20-year LNG sale and purchase agreements with Shell, BP, Edison S.p.A., Galp, Repsol, and PGNiG.
• North America Midstream O&G Deal of the Year – Midship Pipeline: Latham advised Cheniere Energy, Inc. on the project financing in connection with the construction and operation of the Midship Pipeline – a 200-mile, 36-inch natural gas pipeline located in Oklahoma. Stretching from Okarche, Oklahoma to Bennington, Oklahoma, the main pipeline has the capacity to move 1.4 million dekatherms per day of natural gas. The natural gas will originate from the Scoop and Stack plays of the Anadarko Basin and end in the Gulf Coast and southeastern US markets. The transaction value is upwards of US$680 million.

The practice has also been tapped as a finalist for IJGlobal’s 2019 North America Legal Advisor of the Year.