PRESS RELEASE: DOE ASSEMBLES LEGAL TEAM FOR 3,200 MW LNG-TO-POWER PROJECT
DELTA OFFSHORE ENERGY PTE LTD (“DOE”) is pleased to announce the appointment of Hogan Lovells as international legal counsel and ACSV Legal, Vietnam as in-house and local legal counsel for its project to develop a 3,200 MW LNG-to-Power Plant and related floating storage and regasification unit and terminal at Bac Lieu Province, Vietnam (“Project”) following the issuance of the Investment Registration Certificate (“IRC”) for the Project on January 21, 2020.
The Hogan Lovells team will be led by Partners Samantha Campbell and Laurence Davidson with support from Partners specialized across all aspects of the LNG-to-Power value chain: Sean Conaty, Kevin Keenan, Alex Wong and Paul Shillington.
ACSV Legal’s team will be led by Mark Oakley, Managing Partner and Tim Dobson, Of Counsel with support from Vu Nguyen Dung Ha and Hieu Pham.
The Project’s sponsors are advised by Gide Loyrette Nouel LLP. Gide's team is led by Partner, Colin Graham, Of Counsel Alix Deffrennes and energy associate Vanessa Fullerton.
Hogan Lovells is an international law firm headquartered in Washington, D.C. and London with over 2,600 lawyers in some 50 offices worldwide. The firm has maintained a strong presence in Asia for over 35 years and has a long track record in energy and infrastructure projects, including in Vietnam. Hogan Lovells’ dedicated global team of over 500 energy and infrastructure lawyers has represented clients on some of the world’s largest and most challenging projects, including on more than US$150 billion of closed transactions in the sector over the last two years.
ACSV Legal is a full service Vietnamese law firm of 25 lawyers with its headquarters in Ho Chi Minh City and affiliated office in Hanoi and has a well experienced and established energy team. ACSV Legal features highly in Legal 500 Asia Pacific 2020.
Gide Loyrette Nouel LLP is a full service international law firm with offices in 12 countries worldwide headquartered in Paris and present in Asia for over 30 years. Gide's energy and infrastructure team has a long track record on major projects, including Sizewell C and Jaitapur nuclear power projects, the Australian Future Submarine project and major gas pipelines.
Ian Nguyen, Managing Director of DOE, said “I am delighted to announce the appointments of these prestigious law firms and look forward to working with them on this exciting and innovative Project”.
The Project is to be fully implemented by 2027 with the first 750MW (800MW gross) CCGT by 2024, if not earlier. The Project is the first registered energy infrastructure project in accordance with Vietnam’s Law on Investment. The project company to be incorporated in Vietnam will be a 100% foreign owned and will implement and represent the collective interests of the committed Strategic Partners to the Investment Project Consortium in the Project.
This new private sector initiated model for energy infrastructure under the Law on Investment is attracting world-class industry operators to compete in de-risking the development and investment in the LNG-to-Power value-chain in Vietnam. The demand driven framework aligns Vietnam’s socio-economic objectives with commercial incentives in a risk-allocated contractual structure (i.e. PPA) in accordance with international common practice. This enables global financial institutions to innovate investment and financing solutions with the most competitive cost of capital. The ultimate end game is a Project that provides affordable, clean and reliable energy to Vietnam through a feasible, bankable and sustainable investment structure for investors.
For further information, contact:
Delta Offshore Energy Pte Ltd
+84 24 393 686 27
Hoa Binh Green City Commercial Centre, 4th Floor
505 Minh Khai, Hai Ba Trung District, Hanoi