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Stewart M. Robertson


Stewart M. Robertson

London +44-20-7959-8555 +44-20-7959-8555 +44-20-7959-8950 +44-20-7959-8950
[email protected]

Stewart M. Robertson is co-head of S&C’s global project development and finance group and a member of S&C’s natural resources group. Stewart has more than 30 years of experience advising clients on major transactions in emerging markets, particularly in respect of complex oil and gas, mining and metals and other natural resource projects. His experience includes negotiating acquisitions, dispositions, joint ventures, foreign investments and commercial arrangements among sponsors and host countries and negotiating financing agreements with commercial banks, underwriters, rating agencies, ECAs and MLAs.


Highlights of Mr. Robertson’s work include:

  • Golden Triangle Polymers Company, a joint venture between Chevron Phillips Chemical Company and QatarEnergy, in the project financing of an $8.5 billion integrated polymers facility in Orange, Texas
  • Barrick Gold on the Reko Diq Project in Balochistan, Pakistan, one of the world’s largest undeveloped copper and gold deposits
  • First Quantum Minerals Ltd. and its Zambian subsidiaries in an agreement with the Government of Zambia to resolve matters involving the Kansanshi and Sentinel copper projects and secure the basis of their $1.25 billion expansion project to extend the life of the Kansanshi copper-gold mine and $250 million investment to develop the Enterprise nickel deposit
  • ​Tengizchevroil ($16+ billion, Kazakhstan) – represented TCO on its $4.5 billion project bond financing for the expansion of its upstream operations at the Tengiz supergiant oilfield in Kazakhstan; named “2016 European Oil & Gas Deal of the Year” by Project Finance International; and its 2020 $1.25 billion unregistered senior secured bond offering in the international markets alongside private loans that mirror the terms of these bonds
  • Rovuma LNG ($35 billion, Mozambique) - representing Rovuma LNG on the financing of its $35 billion LNG project in Mozambique (pending)​
  • Oyu Tolgoi copper and gold project ($4.4 billion, Mongolia) – represented Rio Tinto and Oyu Tolgoi in the multi-source financing of the Oyu Tolgoi copper and gold mining project – the largest mining project financing to sign in 2015; named “Asia-Pacific Mining Deal of the Year” by PFI
  • Emirates Aluminium smelter project ($10 billion, Abu Dhabi) – represented the sponsors in the financing of the first and second phases of development of the largest single-site aluminum smelter in the world; Phase I named by PFI as 2007 “EMEA Industry Deal of the Year” and Phase II as 2013 “Middle East Industrial; Deal of the Year”
  • Dolphin Energy Limited ($4.1 billion) – represented the bank lenders and underwriters on the limited recourse refinancing of Dolphin and subsequent further financings in the bank and bond markets. Dolphin produces gas offshore Qatar and transports and sells it in Dubai, Abu Dhabi and Oman; named “Middle Eastern Oil & Gas Deal of the Year” by PFI, “Middle East Oil & Gas Deal of the Year” by Project Finance and “Global Oil & Gas Deal of the Year” by Infrastructure Journal
  • Ambatovy nickel project ($4.5 billion, Madagascar) – represented the sponsors in the largest greenfield nickel and cobalt project in the world and the first major foreign investment in the Madagascar mining sector and its restructuring; named by PFI as the 2007 “EMEA Mining Deal of the Year”; advised on three subsequent restructurings
  • Yemen LNG ($4.5 billion, Yemen) – represented sponsor consortium, led by Total; named by Project Finance as “Middle East Oil & Gas Deal of the Year,” Asian-Counsel as “Project Finance Deal of the Year” and Infrastructure Journal as “Global Deal of the Year” and “Oil & Gas Deal of the Year”
  • Baku-Tbilisi-Ceyhan (BTC) oil pipeline project ($3.9 billion, Azerbaijan-Georgia-Turkey) – represented sponsor consortium, led by BP on the original financing and 2016 refinancing; named by Project Finance International as “EMEA Oil Deal of the Year,” Infrastructure Journal as “Deal of the Year” and “Deal of the Decade”, Project Finance as 2004 “European Oil & Gas Deal of the Year”, IFLR as “Project Finance Deal of the Year” and included in the “top ten most influential deals of the last twenty years” by Project Finance & Infrastructure Journal, 2018
  • Sincor heavy oil project ($4.6 billion, Venezuela) – represented sponsor consortium, led by Total, on the largest project financing at the time to successfully close in Latin America; named by IFLR as “Oil and Gas Deal of the Year”
  • Cantarell nitrogen gas reinjection project ($1 billion, Mexico) – represented lenders
  • PT Inco on the limited recourse financing of the expansion of its nickel mine in Indonesia
  • Alumbrera copper and gold project ($1.3 billion, Argentina) – represented the sponsors in the first major foreign investment in the Argentine mining sector and one of the first major project financings for an Argentine credit
  • OCENSA pipeline ($2.4 billion, Colombia) – represented sponsor consortium, led by BP, in the joint venture and commercial arrangements and subsequent limited recourse financing


Mr. Robertson is regularly recognised as a leading lawyer by a number of publications, including Chambers GlobalChambers UKUK Legal 500IFLR1000Law360 and Latin Lawyer.