Petrochemicals

We have acted for a number of oil and gas majors and other significant petrochemical companies on a range of petrochemical projects. These include major oil refineries, ethylene cracker complexes, downstream production facilities, industrial gas complexes, petrochemical storage facilities, and downstream distribution and sales facilities.

The projects on which we have assisted reflects the wide range of issues encountered in the petrochemical industry, and includes the development and construction of facilities, sale or acquisition of facilities, protection of trade interests, environmental issues, the application of the Kyoto Protocol, emissions-trading strategies, international tax planning, corporate restructuring, derivatives transactions, and development and sale of captive power, steam, and water facilities and advising on technology and privatization issues.

Some examples of recent projects in which we have been involved include:

• Middle East Petrochemicals Deal of the Year 2007, Project Finance Magazine
  Baker & McKenzie acted for the lenders in the US$1 billion construction of a world scale nitrogen facility in Damietta, Egypt, the largest petrochemicals project financing in Egypt to date.
• Middle East Petrochemicals Deal of the Year 2006, Project Finance Magazine
  Baker & McKenzie acted for the Borrower in the US$3.5 billion financing of Saudi Arabia's largest petrochemicals greenfield project financing to date, involving the Sponsor Saudi Basic Industry Corporation and the Project Company Yanbu National Petrochemical Company (Yansab).
• Acting in relation to the US$ 2.7 billion Jinshan ethylene cracker plant in China.
• Acting for a joint venture in Guangdong Province, China, in relation to the constructing an oil and petrochemical refinery with a total investment amount of US$2.5 billion.
• Acting for the project sponsors in relation to the development of a $1 billion methanol and acetyls plant in Saudi Arabia.
• Acting for the project sponsors in relation to the development and financing of a US$550 million propane-propylene-polypropylene plant in Saudi Arabia.