Leading global law firm Baker McKenzie advised LTW (LNG Terminal Wilhelmshaven GMBH), a fully owned subsidiary of Uniper (a leading international energy company headquartered in Düsseldorf), on its agreement with MOL (Mitsui O.S.K. Lines Ltd., Tokyo) to continue their efforts for MOL to own and operate and for LTW to charter an LNG terminal ship.
The terminal ship - known in the industry as a Floating Storage and Regasification Unit (FSRU) - is expected to be built at a shipyard belonging to South Korean company Daewoo Shipbuilding Marine Engineering (DSME), Seoul, and then chartered by LTW for 20 years. The FSRU constitutes the heart of the future terminal and will make it possible to offload, store and regasify LNG for the German market.
Commenting on this significant milestone for the project, Baker McKenzie's partner Philip Thomson said: "We thank Uniper for the opportunity to advise them on the arrangements with MOL for the construction and charter of the LNG Floating Storage and Regasification Unit, and congratulate both Uniper and MOL on reaching this significant milestone for the landmark Wilhelmshaven LNG project. Our role on the project reflects the depth of our global LNG and projects expertise across the world".
The Baker McKenzie team was led by projects partner Philip Thomson in London and corporate partner Heiko Gotsche in Düsseldorf, supported by banking and finance partners Oliver Socher and Kathrin Marchant (both Frankfurt) senior associate Graham Richmond (London), Claire Dietz-Polte (Berlin), Kirsty Cattanach (Dubai) and associate Alicia Hatvany (London.
The mandate is the latest example of the work of Baker McKenzie's global Energy, Mining and Infrastructure industry group, which uses industry insight and knowledge to best understand and anticipate clients' needs.