Latham & Watkins Advises ENN on a Long Term LNG Agreement With NextDecade Corporation
Latham & Watkins has advised ENN LNG Singapore Pte. Ltd. (ENN), a wholly-owned subsidiary of ENN Natural Gas Co. Ltd., on the negotiation of a 20-year sale and purchase agreement (SPA) with NextDecade Corporation for the supply of liquefied natural gas (LNG) from NextDecade’s Rio Grande LNG export project (RGLNG) in Brownsville, Texas.
Under the SPA, ENN will purchase 1.5 million metric tonnes per annum of LNG indexed to Henry Hub on a free-on-board basis. The LNG supply will be from the first two trains at RGLNG with the first train expected to start commercial operations as early as 2026.
The cross-border Latham team was led by Hong Kong partner David Blumental and London partner JP Sweny, with London associate Ali Stopford and Singapore associate Carolyn Wong.
Latham also recently advised ENN Energy on two long-term LNG agreements with Energy Transfer, one of the largest and most diversified midstream energy companies in North America.