Queensland Curtis LNG

Description

Shell sold a 26.25 percent interest in the Queensland Curtis LNG (QCLNG) Common Facilities to Global Infrastructure Partners Australia for US$2.5 billion. Shell remains the majority owner and operator of the Common Facilities which include LNG storage tanks, jetties and operations infrastructure that service QCLNG’s LNG trains.

Scope of work

The team advised on all aspects of the transaction and developed an optimal transaction structure that included the establishment of a new joint venture coupled with the execution of a suite of documents required to achieve the effective streaming of income and stapling of risk to a new joint venture participant. Under COVID-19 conditions, all due diligence, negotiations and signing of the transaction occurred virtually.

What makes this project unique: This multi-billion dollar transaction is one of Shell’s most significant commercial undertakings in Australia in recent years and globally, is one of the first significant acquisitions by an infrastructure player in mid-stream LNG assets.

Meet the team

The team was led out of Australia from our Perth, and Brisbane offices. - The team worked closely with Shell’s in-house legal team.