Law firm Clayton Utz has advised Chubu Electric Power on its acquisition of an interest in the Ichthys LNG Project.
Chubu Electric will join INPEX, TOTAL, Toho Gas, Tokyo Gas, and Osaka Gas to develop the Ichthys fields, located in the Browse Basin off-shore of Western Australia, for the production of LNG and condensate, Clayton Utz said.
Chubu Electric will also enter into associated long term off-take arrangements from the Ichthys Project.
Perth energy and resources and mergers and acquisitions partners Kevin O'Sullivan and Adel van der Walt lead the Clayton Utz team. They were assisted by lawyers Tom Jasper, Kate Pullinger and Sarah Parkinson.
Clayton Utz advised on all aspects of the transaction including due diligence, negotiation of the sale and purchase documentation, and completion.
O'Sullivan said the project is the first Australian LNG project to be operated by a Japanese company "and therefore represents a significant milestone in Japanese participation in the sector."
Clayton Utz has previously advised Chubu Electric on its investments in & off-take arrangements from the Gorgon LNG Project & the Integra Coal Project.