Herbert Smith Freehills has advised PTTGL Investment Limited (PTTGLI) on the acquisition of a 10% stake in PETRONAS LNG 9 Sdn Bhd (PL9SB).
PTTGLI is subsidiary of PTT Global LNG Company Limited, a 50:50 joint venture company between PTT Public Company Limited (PTT), Thailand’s state-owned oil and gas company, and PTT Exploration and Production Public Company Limited (PTTEP), the exploration and production subsidiary of PTT.
PL9SB, a subsidiary of PETRONAS, owns the ninth LNG liquefaction train (Train 9) in the PETRONAS LNG Complex in Bintulu, Sarawak, Malaysia, which commenced commercial operations earlier this year.
The cross-border Herbert Smith Freehills team, led by partner Graeme Gamble in Perth, with partners David Clinch in Singapore, Rowen Cross in Perth and Chinnawat Thongpakdee in Bangkok, Special Counsel Jau-Shi Liew, senior associates Chelsea Herman, Marc Dornbierer, Owen Alcorn and solicitor Alex Butler, advised PTTGLI on the acquisition.
Herbert Smith Freehills partner Graeme Gamble said: "This strategic investment by the PTT group in midstream liquefaction infrastructure complements PTT’s position as a growing importer of and player in the global LNG market.”
“It was a pleasure working with the PTTGLI team on this highly strategic acquisition for the PTT group and is an indicator of the important role which participation across the value chain plays in the ever-growing and evolving LNG market.”
Malaysian firm Skrine, acted along-side Herbert Smith Freehills on the transaction.