Allen & Overy has advised PT Donggi Senoro LNG on the financing of the $2.8 billion Donggi-Senoro Liquefied Natural Gas (DSLNG) project, the fourth liquefied natural gas (LNG) project in Indonesia, with Ashurst counseling the lenders.
The project, scheduled to start production in mid-2015, will have the capacity to produce 2 million tonnes of LNG per year. DSLNG is the first LNG project in Indonesia to adopt a downstream development model, enabling separate development of upstream (natural gas and condensates production) and downstream (LNG and condensates) businesses.
PT Donggi Senoro LNG is a subsidiary of the project’s shareholders Mitsubishi Corporation, South Korea's Kogas, Indonesia's Medco Energi Internasional and Indonesia's state energy firm Pertamina. Banks and credit agencies involved in the project include JBIC, KEXIM, NEXI, SMBC, BTMUFJ, Mizuho Bank, Korea Exchange Bank and Nonghyup Bank.
The Allen & Overy team was led by Tokyo partner Scott Neilson and Sydney partner Adam Stapledon. The Ashurst team was headed by Hong Kong partner Matthias Schemuth.
