find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Corrs in Korean LNG deal

Corrs in Korean LNG deal

Corrs Chambers Westgarth advised POSCO on the approximately US$2 ($2.7) billion LNG sales and purchase agreement recently signed in Bali with the BP-led Tangguh LNG consortium.Corrs said the…

Corrs Chambers Westgarth advised POSCO on the approximately US$2 ($2.7) billion LNG sales and purchase agreement recently signed in Bali with the BP-led Tangguh LNG consortium.

Corrs said the agreement will see POSCO, one of the world’s largest steel producers, become the first private company to import liquefied natural gas (LNG) into Korea.

Under the deal, 550,000 tons of LNG per annum will be supplied to South Korea for the next 20 years.

Perth Corrs Partner, John King, said the agreement was a historic milestone for the Korean LNG market.

“The Korean LNG market has traditionally been dominated by the state-run Korea Gas Corporation. This is the first time a private company has obtained a contract for direct LNG importation,” King said.

“This is an important step which will assist in underpinning the US$2.2 billion construction cost of the Tangguh LNG project to be located in Papua, Indonesia.”

POSCO will receive the LNG via its US$300 million LNG receiving terminal at Gwangyang Bay, Korea which is currently under construction.

Chief Executive Officer and partner, John Denton, said the project demonstrated Corrs’ ability to provide high-quality legal advice on an international scale.

“Our team has demonstrated its continuing strength in energy issues by advising on such an important project. It also shows the increasing role of Perth-based lawyers in major international energy transactions,” Denton said.

The contract was signed by POSCO’s Senior Vice President Young Tae Kwon and BP Group’s Vice President for Gas, Power and Renewables Anne C Quinn at a special signing ceremony in Bali earlier this month.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Corrs in Korean LNG deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...