Michelet & Co acts for buyers and sellers in the LNG chain, advising on LNG production, sale and purchase and transportation projects. We also advise on the construction and operation of floating LNG terminals and regasification units (FSRUs). Our team members have advised sellers and buyers from projects for LNG produced in the Australia, Angola, Egypt, Trinidad, Qatar and Yemen and sold to destinations in the Far East, Europe and the USA.
For transportation projects, we have advised on the construction and long term charter of newbuilding LNG carriers built to widely differing sizes and specifications, and constructed for specific projects. Our experience in this field enables us to marry the very different expectations of the construction shipyards, the ship owners, the project partners and the project financiers. We are also expert in advising on internal project shipping arrangements, including pooling arrangements, so that these can reflect the overall project structure.
We advised the principal project partners to the Ichthys LNG project on their shipping arrangements and the interplay between these and the project arrangements as a whole. The Ichthys LNG project is the largest LNG project in the Northern Territories, Australia, involving the liquefaction and export of gas extracted from the Browse field offshore Western Australia. The gas will be liquefied at a newly constructed terminal in Darwin Australia and exported to destinations principally in the Far East.
A key part of any successful LNG project are the sale and purchase agreements and we advise on these and how to match such contracts with the project as a whole and with trading arrangements more generally.
We also advise on contracts for the construction or conversion and operation of floating terminals. In the recent Bahrain LNG projects, we advised bidders offering both onshore and offshore receiving terminals, together with associated offshore storage, sale and purchase and transportation arrangements, on the terms of their bids.
We have experienced several cycles in the development of the LNG industry, and have advised our clients through these. We advised Yemen LNG on their original shipping arrangements, involving the long term charter of four newbulding LNG carriers, and the subsequent alterations to these and YLNG’s sale and purchase agreements reflecting the changing pattern of trade for LNG exports and most recently the project generally in the light of the internal difficulties experienced in that country.