Energy: foreign firms in Singapore
Ashurst LLP has an outstanding record in oil and gas, particularly liquified natural gas (LNG). It has set the benchmark in LNG import and regasification projects. Indonesia continues to be its primary market, but it has achieved high levels of activity in Thailand, Myanmar, Bangladesh, Sri Lanka and Pakistan. The team represents a variety of national oil companies, governments, Japanese trading companies and new entrants into the LNG sector. On the natural resources side, corporate partner Simon Brown has an outstanding record. Daniel Reinbott is a leading oil and gas specialist, while Andrew Digges provides further power and infrastructure expertise, and Alfred Ng leads on project finance. Counsel Giles Ashman and associate Avinash Panjabi are also rated. Jon Ornolfsson joined Morrison & Foerster LLP in Tokyo in 2019.
Daniel Reinbott; Andrew Digges
‘It has by far the strongest LNG presence in the Asian market.’
‘With their experience, they have managed to enlighten us with some aspects which we have never thought of before, thus gaining trust within our team.’
‘Daniel Reinbott is my go-to partner in this firm. He is very personable and likeable, as well as being a great commercial and black letter lawyer. Second to none.’
‘Daniel Reinbott’s practical and personalised approach is top notch. He is ready to listen and discuss.’
PT Pertamina (Persero)
First Gen Corporation
- Advised PT Indonesia Asahan Aluminium, the Indonesian state-owned company, on its $3.85bn acquisition of a 51.2% majority stake in the Papua-based Grasberg mine from Freeport-McMoRan and Rio Tinto.
- Advised AGL Energy, the electricity and gas provider in Australia, on all aspects of the first LNG regasification terminal in Australia, located at Crib Point in Victoria.
- Advised a consortium of international sponsors on all aspects of the development of the LNG regasification terminal in Sri Lanka, a floating storage and regasification unit (FSRU) to be located in the Port of Colombo.
Herbert Smith Freehills LLP
Herbert Smith Freehills LLP is noted for energy M&A, particularly in the oil and gas segment. The firm has outstanding energy and resources pedigree with an especially fine record in upstream oil and gas M&A, and projects in the midstream and downstream segments. David Clinch is a leading figure in oil and gas M&A, while Adrian Cheng is a market leader in reserve-based lending, while counsel Mark Veitch is recommended for front-end construction matters. Brian Scott has joined Pinsent Masons LLP.
‘The Singapore team has proven to be one of the best. It is always a pleasure to know that there are a set of individuals that you can count on, even on urgent matters there is always someone to give a hand.’
‘It has a deep understanding of cross border challenges and issues in connection with the energy market and industry. It also has strong knowledge and expertise in power and water projects.’
‘Without doubt, David Clinch is the person we always contact as we know that what he delivers is undoubtedly what the trends are in the market. He always makes sure to involve his team and his peers within the firm to make sure the client is well served.’
PT Pertamina (Persero)
Puma Energy (Singapore)
- Advised Santos on the sale of various upstream oil and gas assets in Vietnam, Indonesia, Malaysia and Bangladesh to Ophir Energy.
- Advised Caltex Australia on its acquisition of a 20% ownership interest in SEAOIL via Caltex Australia’s fuel sourcing and shipping business, Ampol Singapore.
- Advised Brunei Economic Development Board on the construction and development of an integrated refinery and aromatics complex at Pulau Muara Besar, Brunei.
King & Spalding LLP is hugely committed to the energy sector, covering a range of segments from upstream oil and gas to renewables. The firm has further cemented its standing in upstream oil and gas and LNG, which has included a series of first in country LNG projects in Vietnam, Malaysia, Bangladesh, India and elsewhere. The firm is also well-plugged into the power and renewables segment through co-heads of the global power practice Simon Cowled and Kelly Malone, the latter a recognised leader in hydropower. Richard Nelson heads the international LNG practice and Merrick White is head of the international midstream and downstream practice.
Simon Cowled; Kelly Malone; Richard Nelson; Merrick White
‘The team has special insight into the Singapore gas market.’
‘Richard Nelson has in-depth knowledge of the regulatory and commercial aspects of the Singapore gas market.’
The AES Corporation
Anadarko Petroleum Corporation
PTT Exploration & Production
Keppel Capital Holdings
- Continued to advise Anadarko Petroleum on the LNG marketing and marine transportation for the Mozambique LNG Export Project, one of the largest LNG export projects globally.
- Advised Ophir Energy on its acquisition of a package of South East Asian oil & gas assets from Santos.
- Advised H-Energy, the subsidiary of an Indian conglomerateon its establishment of LNG regasification terminals in India, including the floating LNG terminal on the west coast of India, at Jaigarh Port.
Shearman & Sterling LLP has demonstrated a strong commitment to the energy sector, including M&A, project development and project finance. The Singapore team routinely advises on some of the biggest ticket energy transactions and projects in the region. Anthony Patten is global head of the firm's oil and gas practice and Bill McCormack has an outstanding record in projects. Ben Shorten is also rated in oil and gas and power, while Lachlan Clancy impresses at counsel level.
‘It ticks all the boxes in oil and gas, LNG and power.’
‘Great commercial mindset and knowledge of the industry.’
‘Bill McCormack is head and shoulders above the rest, knows his stuff and clients love him.’
‘Anthony Patten is an excellent lawyer.’
- Continued to advise PETRONAS on the development of its $28 billion RAPID (Refinery and Petrochemical Integrated Development) project in Malaysia.
- Advised PETRONAS on the development of its joint-venture arrangements for complexes in its Pengerang Integrated Complex in Southern Johor, Malaysia.
- Advised Pertamina, Marubeni and Sojitz on the development and financing of the $1.7bn integrated LNG-to-power project in West Java Province, Indonesia.
Allen & Overy
Allen & Overy is a major player in oil and gas and mining M&A. It features strongly in downstream and upstream oil and gas, and has an extensive record in power and renewables. It is gaining a presence in the burgeoning offshore wind sector in North Asia. The Singapore team has worked closely with colleagues in Indonesia and Vietnam to achieve particular prominence in those markets. Barry Irwin is a leading figure in energy and resources transactions, noted in particular for his mining sector expertise. Jason Humphreys has an established record in oil and gas and power projects.
Tenaga Nasional Berhad
Kuwait Foreign Petroleum Exploration Company
Asian Development Bank
Maybank Investment Bank
- Advised Total on the establishment of a strategic 50:50 joint venture with the Adani Group, the largest infrastructure conglomerate in India.
- Advised ENGIE on the completion of its divestment of its 69.1% interest in Glow Energy Public Company to Global Power Synergy Public Company.
- Advised ExxonMobil on its 100% acquisition of Federal Oil, one of Indonesia’s leading automotive lubricants companies, from MPM Group.
Clifford Chance has leveraged its local, regional and global expertise to carve out an impressive market share of renewables sector engagements in Asia Pacific. The firm has made significant inroads in M&A, private equity investment and projects in the full-range of renewables segments, including offshore wind in Taiwan and Japan. It has also secured major mandates in midstream and downstream oil and gas, conventional power and mining. Melissa Ng is a key name in energy and resources M&A and investments, while Nicholas Wong is co-head of the global projects group and has a tremendous record in conventional power and renewables projects, and oil and gas projects. Matthew Buchanan leads the Asia Pacific construction practice and is a key figure in the team. Ross Howard is another experienced figure in energy and resources projects.
Matthew Buchanan; Ross Howard; Melissa Ng; Nicholas Wong
‘The team is extremely dedicated to what we do as its client. They work with us like partners and seek outcomes that are always in our interest. They are insightful and forward thinking, anticipating problems before they arise. We appreciate their strategic thinking and partnership approach.’
‘The team is solutions focused and can see the path to resolution of issues as issues arise. This type of thinking drives outcomes.’
PT Indonesia Asahan Aluminium (Persero)
Overseas Private Investment Corporation (OPIC)
The Export-Import Bank of Korea (KEXIM)
- Advising Macquarie Capital, Ørsted and Swancor Renewable Energy on the $627m project financing of the development, construction, commissioning, testing and operation of Formosa 1, Taiwan’s first commercial scale offshore wind farm.
- Advising the joint global coordinators, joint bookrunners and joint lead managers on the $4bn bond issuance by PT Indonesia Asahan Aluminium Persero (Inalum), the Indonesian state-owned mining company.
- Advising Sumitomo Mitsui Banking Corporation, the lead arranger and structuring bank, on the $1.62bn syndicated loan to Perusahaan Listrik Negara, Indonesia’s state-owned electricity company.
Gibson Dunn is highlighted for upstream oil and gas M&A and projects, thanks to the presence of the experienced Brad Roach. Roach has an established record in LNG project development and LNG sales. The broader team is noted for further expertise in power and renewables, reserve-based lending and mining and resources. Saptak Santra is also rated, as is Jamie Thomas for reserve-based lending.
Mozambique LNG Project
PT Saka Energi Indonesia
PT Amman Mineral Nusa Tenggara
- Advised Murphy Oil, on the divestment of its Malaysian subsidiaries, Murphy Sabah Oil and Murphy Sarawak Oil, to a subsidiary of PTT Exploration and Production Public Company.
- Advised the sponsors of the Mozambique LNG project on a LNG sale and purchase agreement for the sale of 1m tonnes per annum of LNG to PT Pertamina (Persero), Indonesia’s national oil and gas company.
- Advised PT Amman Mineral Nusa Tenggara on the development of a 1.3m tonne per annum copper smelter, precious metals refinery and associated facilities in Benete Port, Sumbawa, Indonesia.
Jones Day continues to impress in upstream oil and gas, LNG and renewables, while commodity trading is a growth area for the team. It consistently advises a range of national oil companies (NOCs) and commodity traders, and is building its presence in renewables in Vietnam, Taiwan, Bangladesh and India especially. Alex Cull has achieved prominence in oil and gas M&A, particularly in the upstream space. Karthik Kumar is the key name in renewables, including wind and solar projects in India, Bangladesh, Vietnam and Taiwan.
Hyundai Heavy Industries
PT Saka Energi Indonesia
PTT Exploration and Production
SK Energy International
- Advised PTT Exploration and Production on its $2.22bn acquisition of Murphy Oil’s Malaysian oil and gas business.
- Advised PETRONAS Chemicals Group on its €163m acquisition of Da Vinci Group.
- Advised Glencore on establishing an oil, petroleum products and LNG trading joint venture in China with Zhejiang Provincial Petroleum Co.
Mayer Brown is achieving considerable traction in the market, most notably in Myanmar power projects. It has achieved particular prominence in LNG floating storage and regasification unit (FSRU) projects and LNG sale and purchase work. Its focus on frontier markets has also taken it to Bangladesh and Mekong region, which has included a number of solar power projects; it is also seeing growth in renewables M&A in Vietnam. The strong senior team, which features Nathan Dodd and Benjamin Thompson, has notable EPC experience. Nick Kouvaritakis leads the Asia LNG practice and is a recognised authority on FSRU projects. Counsel Sean Prior is another key name.
Nathan Dodd; Nick Kouvaritakis
Mitsui OSK Lines
China Light and Power
- Advising the client on the construction and operation of a 1.76GW gas-fired combined cycle power plant in West Java; this involves an off-shore FSRU to supply fuel to the power plant
- Advised Karadeniz on its LNG import project in a confidential African jurisdiction, which has involved advising on FSRU charterparty and LNG supply arrangements.
- Advised China Light and Power on its FSRU/LNG import project, including drafting and amending an FSRU charterparty agreement.
Milbank is a prominent name in energy sector financings, particularly multi-sourced financings involving multilateral agencies (MLAs) and export credit agencies (ECAs). In this regard, James Murray has an outstanding reputation with James Orme and of counsel Melissa Lewis providing further senior firepower.
Mitsubishi UFJ Trust and Banking Corporation
Korea Development Bank
- Advised JBIC, NEXI, KEXIM and four other commercial lenders on the development, construction and financing of the 1,000MW coal-fired Cirebon Expansion IPP in Indonesia.
- Advised multiple lenders on the $4.3bn financing of a 2,000MW coal-fired power plant in Indonesia.
- Advised the lenders, including K-Sure and the commercial banks on the project agreements relating to a $147m financing for Binsar Natorang Energy’s 3x13MW hydropower project in Hasang, Indonesia.
Norton Rose Fulbright has demonstrated a longstanding commitment to the energy segment, including oil and gas, conventional power and renewables. The substantial Singapore team operates a diverse practice across a wide geographic region. This includes oil and gas market liberalisation, offshore wind projects in Taiwan and elsewhere, along with a growing number of LNG projects in frontier markets such as Pakistan and Bangladesh. Stephen Begley and Ben Smith are widely recognised for their oil and gas expertise.
Stephen Begley; Ben Smith
‘Excellent knowledge of gas and power markets and deep experience in Asia. The team has depth at the partner and associate level and is highly professional.’
‘Stephen Begley is a consummate gas expert and a highly professional lawyer. Beyond his commercial nous, he is also skilled at stakeholder engagement with regulators and policy makers.’
‘Ben Smith has deep commercial knowledge of global gas markets.’
Edra Global Energy
Energy Market Authority of Singapore
Standard Chartered Bank
- Advised Gas Malaysia on developing the necessary framework for third party access and liberalisation of the downstream gas market in Malaysia.
- Advised Energy Market Authority in Singapore on the restructuring of the domestic gas market to allow the secondary trading of gas.
Pinsent Masons MPillay
Pinsent Masons MPillay has outstanding oil and gas credentials, including in the upstream, midstream and downstream sectors. Renewables, conventional power and mining are also fortes for the Singapore office. Brian Scott has significantly reinforced the team having joined from Herbert Smith Freehills LLP, while former oil and gas partner Ashley Wright has left the firm. David Platt is recommended for power projects.
‘Pinsent Masons as a collective team is outstanding. Never before have I found a law firm so easy and enjoyable to work with. We have a relationship first and foremost and a business relationship when required, which in itself is always of the highest standard.’
‘The team sees beyond the conventional process of delivering a legal service. They think out of the box, empathise and they help however they can first without any expectation. They utilise the power of their network for the network’s benefit, not just their own. Team members are always open, friendly and personable.’
- Continued to advise PT Karunia Utama Perdana on its acquisition of interests from Italy’s ENI in the Sanga Sanga block in Kalimantan, Indonesia, including a 50% interest in VICO, the Sanga Sanga block operator.
White & Case Pte. Ltd.'s Singapore office has built on its prominence in large-scale oil and gas (including LNG) transactions and projects. More recently it has earned particular market recognition in offshore wind energy; it has landed significant roles in major offshore wind projects in Taiwan, South Korea and Japan. Its renewable energy expertise is also applied frequently in solar and battery storage projects. LNG to power projects are forte of the team. Steve Payne remains the key relationship partner for Saudi Aramco and is at the forefront of Petronas’s Refinery and Petrochemical Integrated Development (RAPID) project in Malaysia. Fergus Smith is a leading figure in offshore wind projects in North Asia and LNG regasification projects around Asia Pacific. Matthew Osborne is noted for gas-fired power projects. Ee Lynn Tan is a rising star.
‘White and Case is very strong in the energy area. The team is very knowledgeable and provides excellent advice.’
‘The team is responsive and problem solving oriented.’
‘It has the flexibility to think about different types of institution – including international organisations working under public international law.‘
‘Steve Payne and Ee Lynn Tan provide an outstanding service and advice. They work very hard and make themselves available at various hours to accommodate the client.’
‘Fergus Smith is a problem solving oriented person and gets the deal closed.’
‘Fergus Smith is thoughtful and prompt in responding.‘
Saudi Arabian Oil Company (Saudi Aramco)
International Finance Corporation
Government of Brunei Darussalam
Asian Development Bank
Sumitomo Mitsui Banking Corporation
Japan Bank for International Cooperation (JBIC)
- Advising the financiers on the €2.7bn financing of wpd’s 640MW Yunlin offshore wind project, located offshore Taiwan; the Yunlin project is the largest offshore wind farm in Asia Pacific to reach financial close to date.
- Advising Saudi Aramco on its acquisition of a 50% equity interest in Petronas’s Refinery and Petrochemical Integrated Development (RAPID) in Malaysia and on the development and financing of the $15.3bn joint venture project.
- Advising Copenhagen Infrastructure Partners, as sponsor, on the development and project financing of Changfang and Xidao offshore wind projects in Taiwan.
Baker McKenzie Wong & Leow is widely noted for power, renewables and LNG transactions and projects. It has a fine record in frontier markets such as Bangladesh. Martin David is hugely experienced and respected. Ang Kim Hock is also rated and Andrew Zaw is an emerging talent on the financing side and Lim Sun Kyun is recommended for LNG supply agreements.
James Huang; Martin David
‘The team provides timely and prudent advice and also effective negotiating with our counterparties in order to execute LNG SPAs in a timely manner.’
‘Lim Sun Kyun delivers a diligent and professional service in the LNG sector.’
Asian Development Bank
- Advised CPC Corporation as the buyer on a 25-year contract for the sale and purchase agreement of some 2m tonnes per annum of LNG between CPC and Cheniere Marketing International.
- Advised Cleantech Solar Asia on its strategic partnership with Climate Fund Managers.
- Advised Power China Australia on the construction, development, operation and maintenance arrangements for the Cattle Hill Wind Farm 150MW project in the Central Highlands of Tasmania.
HFW Singapore LLP
HFW Singapore LLP is a dominant force in mining and natural resources. It is also making an impression in solar power and trade finance in the energy sector. It advises a range of commodity traders, project sponsors and distressed investors. Ivan Chia is making an impression in solar and offshore wind projects, along with Aaron Kok . Adam Richardson provides additional international trade and commodities expertise. Brian Gordon has moved to Squire Patton Boggs.
‘Very professional, pragmatic and responsive to client needs. A real pleasure to work with.’
‘Commercial in its approach. The team tries to find a solution rather than create roadblocks.’
‘It has lawyers that know the wind energy industry very well and are able to grasp the technicalities.’
‘Ivan Chia and his team go the extra mile to ensure that response times are aligned to expectations of the counterparts and that drafting is simple and clear.’
‘Ivan Chia understands the renewable energy industry in great detail having worked on a wide range of transactions in multiple jurisdictions for clients on all sides. His legal advice on construction contracts and transaction structure agreements is first class and has served us extremely well.’ He works very hard for his clients and provides excellent negotiation/commercial advice on all aspects of transactions.
‘Ivan and Aaron support their clients with tremendous energy that is intelligently calibrated to achieve real/tangible market savvy outcomes.’
‘Adam Richardson is always available, day or night, weekday or weekend, to provide timely and thorough yet succinct legal advice.’
Boskalis Offshore Wind
Van Oord Offshore Wind
- Advised Sunseap Energy on the procurement, construction, and the operations and maintenance of a 168MW solar PV plant in Ninh Thuan, Vietnam.
Latham & Watkins LLP is a major player in big-ticket energy sector financings. Though best known for its record in Indonesia it has an impressive pipeline of engagements from around South East Asia. Stephen McWilliams is now Tokyo managing partner, but splits his time between Singapore and the Tokyo office. Clarinda Tjia-Dharmadi is recommended for Indonesia power sector project financings.
Stephen McWilliams; Clarinda Tjia-Dharmadi
Asian Development Bank
PT Pertamina (Persero)
Nippon Export and Investment Insurance
- Advised the international lenders on the project financing for the Rantau Dedap Geothermal Power Project in Indonesia.
- Advised PT Pertamina EP Cepu, the project sponsors, on the development and financing of the Jambaran-Tiung Biru Gas Field Development in East Java, Indonesia.
- Advised Pengerang Energy Complex, the project company, on the development of an aromatics complex in Pengerang, Johor, Malaysia.
Linklaters' Singapore team has a strong construction and EPC contracts orientation. The group frequently works alongside colleagues around Asia and has been active in Taiwan offshore wind projects in particular. Counsel Kevin Crombie leads the team, while LNG specialist Tessa Davis has joined Morrison & Foerster (Singapore) LLP. Christopher Bradley is recommended for energy sector project finance.
China Light and Power
Mitsui & Co
Addleshaw Goddard switched its focus in 2019 to achieve a greater emphasis on offshore oil and gas, including FPSOs, along with LNG terminal projects. Ton van den Bosch was hired from Ince in February 2019, bringing a depth of experience from private practice and a long stint as a general counsel at Blue Energy Services and International Container Terminal Services; he has broad geographic experience from South East Asia, to South Asia, the Middle East and Africa. In May 2019, the Singapore office was joined by Marcus Collins, a former Allen & Overy LLP Bangkok partner, who brings additional solar and hydropower experience, particularly in Thailand, Myanmar and Indonesia.
‘Ton van den Bosch is an excellent lawyer in his field. He has a special mix of in-house and law firm experience. He knows his area exceptionally well and is able to practically apply his knowledge to the issues at hand.’
- Advised Cairn Energy on the SNE project offshore Senegal, including the project development, financing and the deployment of an FPSO.
Akin Gump Strauss Hauer & Feld LLP is a potent force in upstream and midstream oil and gas, and power. The Singapore team is well-entrenched in the LNG sector, including LNG to power projects. In the broader power environment, the office is better known for conventional energy sources, though it is gaining ground in smaller renewables engagements. It is also making headway in private equity investments and transactions involving Chinese entities. Michael Joyce is an experienced figure in oil and gas, power and mining, including both M&A and projects engagements. Paul Greening has a similar background, with a notable emphasis on LNG-related M&A and projects.
Michael Joyce; Paul Greening
JXTG Nippon Oil & Energy
Mitsui & Co
- Advised J Power (Electric Power Development Co), the listed Japanese energy company, on its participation in a world-first project to produce hydrogen from brown coal reserves in the Latrobe Valley in Victoria, Australia.
- Advised Anadarko Petroleum as the operator and lead developer of Mozambique LNG project on the development of a master LNG sales agreement for short-medium term and spot trading of LNG cargoes from the project.
- Advised Hopu Investments on its equity investments and lending programme to New Age Africa, the UK business engaged in upstream development of oil and gas assets in Sub-Saharan Africa.
Dentons Rodyk & Davidson LLP is part of a world leading oil and gas firm and the Singapore office is at the forefront of oil and gas projects, especially LNG regasification and LNG bunkering in Asia Pacific. The team is especially active in Indonesia, Bangladesh, Singapore, Myanmar and China. The group advises a range of international and regional oil majors and a large number of commodity traders. Renewables are also a key part of the practice. Kunal Kapoor is a recognised specialist in LNG projects and commodity trading. Tan Joo Thye is hugely experienced in big ticket projects and investments.
Tan Joo Thye; Kunal Kapoor
PT Pertamina (Persero)
China Huadian Engineering
- Advised PT Pertamina (Persero) on its first joint venture agreement with Rosneft, to jointly develop the new Tuban refining and petrochemical complex in East Java.
- Advised China Huadian Engineering on its $2.3bn acquisition of a majority interest in a Vietnam project company to develop a 2X660MW coal-fired power facility in Vietnam.
- Advised a consortium of Indonesian and Chinese entities on the development of the 510MW Batang Toru hydropower plant at Sipirok, Indonesia.
Hogan Lovells Lee & Lee has cemented its position in the power and renewables sectors, particularly in Taiwan and Vietnam projects. It has landed several considerable engagements in Taiwan's offshore wind programme and is making a further impact in coal-fired power and renewables in Vietnam. The Singapore team advises a mix of sponsors and lenders, and frequently works alongside colleagues in Tokyo, Hamburg and other offices. Alex Wong has a great deal of renewables experience. Samantha Campbell splits her time between Singapore and Ho Chi Minh City, concentrating much of her time on the Vietnam renewables sector.
Alex Wong; Samantha Campbell
PT Perusahaan Listrik Negara (PT PLN)
Tokyo Electric Power Company
- Advised Tokyo Electric Power Company on its acquisition of a 36.38% share in Viet Hydro from InfraCo Asia Development as part of its investment and participation in the Coc San Hydropower Plant in Lao Cai Province, Vietnam.
- Worked alongside the Tokyo office to advise PT Perusahaan Listrik Negara on on the development, construction and financing of the $2.5bn 2,000MW Jawa 9 and 10 power projects in Indonesia.
K&L Gates Straits Law LLC
K&L Gates Straits Law LLC remains noted for oil and gas, including LNG matters. It is active throughout South East Asia and beyond, representing a number of major sponsors and corporates.
Lian Yok Tan
PT Pertamina (Persero)
Taiwan Power Corporation
Beijing Gas Singapore
- Advised Taiwan Power on its LNG purchases, importation and transportation as part of the liberalisation of LNG importation into Taiwan.
- Advised Idemitsu Kosan on operational and governance issues connected to its investment in its Nghi Son petrochemical refinery in Vietnam.