Lawyers in Chadbourne’s oil and gas practice have been serving industry participants for many years. We have extensive transactional and regulatory energy experience, and draw from our globally renowned energy and project finance group and our top-tier Russia and Central and Eastern Europe practices. Our clients include oil and gas companies, from independents focusing on upstream activities, to fully integrated oil companies, pipeline companies and consortia, as well as commercial banks, multilateral agencies, investment banks and other providers of financing for energy projects. We also have represented governments, energy associations and end-consumers of energy.
Liquefied Natural Gas (LNG)
In the LNG industry, our lawyers have advised on the financings on some of the most innovative and challenging LNG liquefaction export facilities over the last several years. In that context, we have reviewed and advised on development structures and agreements, transaction risk analysis and allocation, joint venture structures and agreements, LNG sale and purchase agreements, LNG transportation and related port usage and services agreements, LNG tolling agreements, LNG terminalling and regasification services agreements, LNG and liquid fuel management agreements, and LNG vessel construction, financing and transportation agreements. We also have extensive experience with other agreements typically present in LNG projects, such as facilities and equipment engineering and construction contracts, operation and maintenance agreements, and power and utilities services contracts.
Pipeline Development and Finance
An important part of our oil and gas practice is our work on oil and natural gas pipeline projects. We have advised lenders and developers with respect to non-recourse and limited recourse financings for the construction and operation of domestic and cross-border oil and natural gas pipeline projects. We have worked on both bank and capital market financings for pipelines, and are experienced with FERC tariff and other regulatory matters pertaining to domestic pipelines, as well as with transportation agreements, interconnection agreements, balancing agreements and other commercial arrangements for the operation of pipeline facilities around the world.
Refining, Processing and Storage
In addition to pipeline projects, Chadbourne lawyers have worked on other midstream projects, such as refining and processing projects and natural gas storage projects.
Exploration and Production (E&P)
Lawyers in our oil and gas practice advise clients on all aspects of the exploration and production of hydrocarbons. In this regard, we advise clients on concessions, leases, farm-out agreements, production sharing agreements, risk service contracts, international joint operating agreements and other joint venture arrangements for hydrocarbon extraction. We also advise clients on the acquisition and disposition of oil and gas properties. Additionally, we work with governments and state-owned enterprises on privatizations, production sharing legislation, mineral licensing and other petroleum legislative regimes.
A significant component of our practice involves structuring and negotiating non-recourse and limited recourse financings for oil and gas field development projects. Our lawyers’ significant experience in project financed transactions enables us to advise both lenders and developers on the financeability of E&P projects.
We are also well-versed in federal and state regulation of natural gas pipelines and local gas distribution systems in the United States. We have represented industrial end-users and independent power developers in interstate gas pipeline proceedings in front of the US Federal Energy Regulatory Commission and the US Courts of Appeal and have participated in proceedings before various state public utility commissions concerning local gas distribution services. In connection with that work, we have participated in numerous proceedings involving the restructuring of the interstate gas industry in the US and have advised clients on the impact of these proceedings on gas supply and transportation services.
Privatization/Acquisition, Energy Investment and Transport
Our oil, gas and LNG practice lawyers have advised lenders, participants and governments on various aspects of international energy privatizations and investments.
Chadbourne Represents Lenders on US$11.5 Billion Senior Debt Financing for Corpus Christi LNG Project
Chadbourne represented the lenders in connection with the US$11.5 billion senior debt financing for the Corpus Christi LNG Project. The Corpus Christi LNG Project is sponsored by affiliates of Cheniere Energy, Inc. and is located on the La Quinta Channel on the northeast side of Corpus Christi Bay in San Patricio County, Texas. The project, when fully constructed, is expected to comprise three liquefaction trains with expected aggregate nominal production capacity of approximately 13.5 mmtpa, three full-containment LNG storage tanks with capacity of approximately 10.1 Bcfe, two LNG carrier docks and a 22-mile, 48" natural gas supply pipeline, as well as all associated facilities. The estimated total capital cost of the project is US$15.4 billion. The transaction was named the 2015 "North American LNG Deal of the Year" by IJGlobal and the 2015 "Deal of the Year (Americas)" by Project Finance International.
Chadbourne Represents Lenders on US$4 Billion Financing for Train 2 and the US$3.7 Billion Financing for Train 3 of Freeport LNG Liquefaction Project
Chadbourne recently represented the lenders on the US$3.691 billion financing of Train 3 of the Freeport LNG liquefaction and export project at Quintana Island near Freeport, Texas. The cost of the Freeport LNG liquefaction project, which consists of three trains, is expected to be approximately US$12.5 billion. The project financings include an additional approximately US$3 billion raised for refinancing costs and contingency funding, making it the largest fully non-recourse construction acquisition financing project ever. Chadbourne also advised on the US$4 billion financing for Train 2 of the project.
Chadbourne Represents Lenders on US$4.6 Billion Financing for Train 5 Expansion of Sabine Pass Liquefaction's LNG Export Project
Chadbourne represented the lenders on a US$4.6 billion financing that will include Train 5 of the Sabine Pass Liquefaction LNG export project at the Sabine Pass LNG Terminal, located in Cameron Parish, Louisiana. Chadbourne also previously represented the lenders on the initial Sabine Pass Liquefaction Trains 1-2 financing that closed in 2012, and the subsequent Sabine Pass Liquefaction Trains 1-4 financing that closed in 2013.
Chadbourne Advised on Financing for the Expansion of Bolivia–Brazil Pipeline
Chadbourne represented Corporación Andina de Fomento (CAF), together with the US Export-Import Bank, on the US$125 million financing of the expansion of the Bolivian portion of the Bolivia-Brazil pipeline, owned and operated by Gas TransBoliviano.
Chadbourne Represents YPF in the Largest Corporate Bond Offering in Argentine History
Chadbourne represented YPF S.A., Argentina’s largest oil and gas company, in a landmark US$1.5 billion global bond offering, the largest issuance of corporate bonds in Argentina’s history. YPF placed the 10-year bonds at 8.5 percent, and the notes were sold in reliance on Rule 144A and Regulation S under the US Securities Act of 1933.
Chadbourne Advises on US$1.075 Billion Notes Offering to Refinance the Ruby Pipeline
Chadbourne represented the initial purchasers in the issuance and sale by Ruby Pipeline, L.L.C. of US$1.075 billion aggregate principal amount of senior unsecured notes. Chadbourne also represented the syndicate of commercial banks in separately extending US$350 million unsecured term loan facilities and US$25 million unsecured revolving credit facilities to Ruby Pipeline, L.L.C. Read more
Noam Ayali’s practice focuses on the acquisition, development, financing and operation of energy infrastructure projects. He represents energy companies, project sponsors and developers, as well as multilateral agencies, commercial banks and equity investors, in connection with upstream oil and...