Linklaters advises Eni on Mozambique’s Coral South FLNG project financing

Linklaters has advised Eni together with its Area 4 partners, CNPC, ENH, GALP and KOGAS on the ECA-backed multi-billion dollar project financing for the US$8 billion Coral South FLNG project in Mozambique.

The financing is Africa’s largest ever project financing deal to date. It is also the world’s first project financing of a FLNG facility.

Daniel Tyrer, Partner, Linklaters, said: “This landmark transaction marks the beginning of a huge development process for Mozambique as it starts to capitalise on the significant natural gas resources in the Rovuma Basin. It is a very important and ground-breaking transaction for Eni and its Area 4 Partners which involved a complex legal structure and showcases Linklaters’ capabilities and expertise in dealing with major multi-sourced project financings.”

The Linklaters team, which was led by Project Finance partner Daniel Tyrer working alongside partners Mark Russell and Vanessa Havard-Williams and managing associate Ross Schloeffel, worked closely with Eni’s in-house legal team led by Senior VP for Legal Affairs for Finance, M&A, Mozambique Project, Reserves and International Renewables, Gloria Dagnini.

Source: LNG Industry