Squire Sanders’ clients clinched a win at last night’s Asian Legal Business Japan awards for the acquisition of equity interests in the AUS$34bn Ichthys LNG Project, on which the firm advised. The deal won the ‘Energy and Resources Deal of the Year’ category.
The ALB Japan Awards honour the outstanding achievements of leading law firms in the region and recognize the most innovative deals and dealmakers of the past year. Squire Sanders was also shortlisted as an adviser in the International Deal Firm of the Year category for advising ITOCHU Corporation on its $1.68B acquisition of the Asia fresh fruit and global packaged foods businesses of Dole Food Company.
In the winning deal, Squire Sanders acted as Australian counsel for a consortium of Japanese companies including Tokyo Gas, a longstanding client of the firm. Other companies in the consortium were Tokyo Electric Power Co Ltd, Kansai Electric Power Co ltd, Kyushu Electric Power Co Ltd and Osaka Gas Co Ltd. The deal related to the acquisition of equity interests in the AUS$34 Bn Ichthys LNG project, from the INPEX group of companies and Total group of companies.
The Ichthys LNG Project processes gas from the Ichthys field offshore Western Australia, and exports it to a liquefaction plant in Darwin via an 889km subsea pipeline. The Project produces around 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum.
Perth-based corporate partner Duncan Maclean led the Squire Sanders team working on this transaction.
The annual ALB Japan Law Awards ceremony was held at the Ritz-Carlton in Tokyo on June 5.