U.S. law firm Baker Botts has advised LNG Japan Corporation on its $500 million acquisition of a 10 percent stake in the Scarborough liquefied natural gas (LNG) project in Australia from Woodside Energy Group, which was represented by Ashurst.

As one of the world's top LNG buyers, Japan is promoting natural gas as a transition fuel before its economy reaches zero-neutrality in emissions in 2050, Reuters reported. It added that Japan also wants to be an LNG trading hub for Asia, especially for nations switching from coal to gas.

The Baker Botts team was led by partners Daniel Reinbott and Michael Harrison, while the Ashurst team was headed by partners Jane Hall and Ratha Nabanidham.