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December 2011 - ALB acts as lenders local counsel in relation to the US$10.4 billion Barzan Gas Project

ALB is pleased to have acted as local counsel advising the lenders in relation to the US$10.4 billion Barzan Gas Project.

The Barzan Gas Project will help meet growing domestic energy demand in the world's top liquefied natural gas exporter. It is Qatar's most expensive since Royal Dutch Shell Plc launched a US$19 billion Pearl gas-to-liquids plant in 2006. The financing includes a commercial bank facility of US$3.34 billion, a US$850-million Islamic facility and US$2.55 billion of export credit agency financing, with ExxonMobil, QP's partner in the project, also providing a portion of the senior debt.

The first Barzan gas production line is expected to become operational in 2014 with the second in 2015. In addition to feeding power plants, it will also supply natural gas to fuel water desalination plants and other industrial users in Qatar, while also processing propane and butane for export.

ALB Managing Partner Alaa Hamad and Associates Rad Eltreki and Sean Khalid were supporting Skadden, Arps, Slate, Meagher & Flom LLP.

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