S&C Advises Sponsors on Largest Ever Project Financing (Infrastructure Journal)

December 16, 2009

Infrastructure Journal highlighted Sullivan & Cromwell's role advising the sponsors in the PNG LNG project – the largest project financing ever to be signed, with debt commitments totaling $14 billion. A joint venture of seven sponsors, including affiliates of ExxonMobil, Oil Search, Independent Public Business Corp, Santos, Nippon Oil, MRDC and Petromin PNG, the project will produce gas from reserves and transport them via a pipeline to a two train LNG liquefaction and storage facility near Port Moresby, Papua New Guinea, for shipment to Asian buyers. The project financing is expected to close in mid-February 2010.