Sempra Infrastructure Partners, LP (SI) reached a positive final investment decision for the development, construction and operation of the Port Arthur LNG Phase 1 project in Jefferson County, Texas. The Port Arthur LNG Project will comprise of two natural gas liquefaction trains, two LNG storage tanks and associated facilities with a nameplate capacity of approximately 13 million tons per annum. In connection with the FID, SI closed its joint venture with ConocoPhillips.
S&C advised SI on the project financing, which included a $6.8 billion non-recourse debt financing and the issuance of the final notice to proceed under the project's engineering, procurement and construction agreement. In connection with the project, SI also entered into an agreement to sell an indirect, non-controlling interest in Phase 1 of the project to an infrastructure fund managed by KKR.
Over the last several years, S&C has advised SI in financings to support development of North American clean energy infrastructure.
The S&C team representing SI on the project financing included Inosi Nyatta, Nick Baker, Virginia Cueva, Meng Yu and Nick Kinslow. Max Birke and Miriam Peter advised on German-law issues. Saul Brander and Eli Dubin advised on tax and ERISA matters. David Gilberg and Colin Lloyd advised on hedging matters. Mehdi Ansari and Matthew Rosenberg advised on intellectual property matters.
The S&C team advising SI in the announced sale to KKR includes Brian Hamilton, Inosi Nyatta, Mimi Wu, Terence Olsen and Kevin Akrong. Joyce Kwok, Nick Baker and Nick Kinslow are advising on financing matters. Isaac Wheeler, Saul Brander and Tristan Hood are advising on tax matters. Mehdi Ansari and Matthew Rosenberg are advising on intellectual property matters. Juan Rodriguez and Axel Beckmerhagen are advising on global competition matters.