Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

The projects and energy practice of Allen & Overy’s Tokyo office generated much respect from clients and peers alike. Lead partners Aled Davis and Adam Moncrieff enjoy an excellent reputation in the market. The opening of the firm’s Australian and Indonesian offices in the past year has boosted the energy practice as both jurisdictions are important strategic markets for Japan.

Active on the lender’s side, the team advised JBIC, The Export-Import Bank of Korea and Nippon Export & Investment Insurance, and a syndicate of private sector banks in the US$2.6 billion financing of a US$3.7 billion second stage oil refinery complex in Egypt. This project will be one of the largest project financing initiatives to date for Northern Africa.

The14-lawyer team at Herbert Smith is co-headed by James Watson and Rebecca Major and is a recognised force in the energy and natural resources market in Japan. The firm is particularly strong in acting as counsel for developers and sponsors, and can count Inpex Corporation, Mitsui & Co, Japan Petroleum Exploration, Tokyo Gas and Itochu as some of its key clients. Major relocated from Paris in September 2010 to succeed former co-head of the practice David Clinch, who returned to London four months later.

Working closely with its respective teams in other offices, the team’s projects have a wide geographical spread. Sample transactions include Watson’s role in advising a Japanese company on the restructuring and consolidation of its interests in gas field developments and LNG projects in Africa and the Middle East. The firm’s Tokyo, Jakarta and London offices also coordinated when representing Mitsubishi Corporation on its acquisition of interests in an oil and gas field in Indonesia.

The energy group at Ashurst expanded rapidly over the past year with the relocation of Anthony Patten from London and the joining of one senior counsel and five associates. The four-partner team led by Rupert Burrows has a balanced practice that is active in advising on both the development and financing aspects of energy projects.

For example, John McClenahan and Harvey Weaver are acting for JBIC on an IPP coal fired independent power project in Vietnam, while Burrows can be found on the development side advising Sumitomo Corporation as EPC contractor on the first IPP in Malaysia to be tendered. Ashurst also has a strong Korea practice run out of its Tokyo office. Korea Gas Corporation mandated McClenahan and Patten on its acquisition of a 15% stake in the Gladstone LNG project in Australia in December 2010, which is the largest investment ever in Australia by a Korean company.

The global network of Baker & McKenzie is one of the firm’s key strengths, and this advantage is particularly helpful on major cross border projects. For example, the firm represented Sumitomo Metal Mining on a US$1.3 billion nickel mining project in the Philippines, on which Tokyo based partner Anne Hung is working with the firm’s Manila office.

The firm’s full service offering is another strength clients appreciate and this was demonstrated when it advised Tokyo Gas on the purchase of an equity interest in the BG Group’s LNG project in Queensland, Australia. Hung and Paul Davis handled the deal, and one client of Hung says she has the ability to “quickly understand the issues with deep insight and work very diligently”.

The energy and natural resources practice of Milbank focuses on high end financings and is supported by the capital markets practice when needed. One high profile transaction the firm is working on is advising a syndicate of lenders on the project development and limited recourse financing of the Caserones mining project in Chile. This is the first multi-billion dollar mining transaction in South America that is wholly owned and developed by a consortium of Japanese companies.

In addition to maintaining a strong presence on lending work, Milbank’s Tokyo office has received more instructions on the borrower side in the past year and the team expanded by five to handle the increased work flow. Star practitioners Gary Wigmore and Mark Plenderleith head the group and the duo look after Asia Pacific and Japan matters respectively.

White & Case demonstrated its commitment to the energy and natural resources practice by promoting Alexander Woody to the partnership in January 2011 and adding two associates who have experience on LNG projects internationally. One notable feature of its practice is the firm’s established presence in the clean energy sector, and JBIC is engaging the team to provide Japanese and US law advice on its investment in the Blythe project. This is said to be one of the largest solar projects planned on US public land.

The Tokyo office is again advising JBIC on the development, construction and operation of an IPP project in Mexico. Partners Hendrik Gordenker and Mark Goodrich are the two key contacts and can be found on many of the important projects involving the team.

Partner Anthony Raven heads up the energy and project finance practice at Hogan Lovells, and is commended by one client as “one of the best energy and project lawyers in town”. The team has seen an increasing flow of instructions, and one highlight saw the firm represent JBIC on the project financing of a greenfield power project in Vietnam. Hogan Lovells also advised Metal One Corporation, a joint venture between Mitsubishi Corporation and Sojitz Corporatio, on a metal pipes supply project to customers in South America.

Morrison & Foerster continues to build up its profile in the energy and natural resources sector under the helm of partner Michael Graffagna. The team works on a diverse range of projects internationally and is able to advise on the full development cycle of projects. One deal saw it act for Sumitomo Corporation on its US$1.9 billion acquisition of a 30% stake in a recently created iron ore unit of Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais. Dale Caldwell is another key partner of the practice.

The energy and natural resources group led by Joseph Kim at Paul Hastings is often found on deals that have a Korean element. It twice advised Korea East-West Power in the acquisitions of Marubeni Sustainable Energy and Jamaica Public Service in September 2010 and April 2011 respectively. This demonstrates the firm’s geographical coverage and its ability to represent Asian clients in cross-border transactions.

Renowned for its expertise in the energy and resources sector, the Tokyo office of Vinson & Elkins has once again received plaudits from clients. “The firm’s lawyers understand the business requirements of the client with ease and they regularly add value by bringing their industry experience on to certain key commercial issues. This is very helpful in decision making.” Another client says the advice he has receives from the firm is “practical, exhaustive and legally sound”. Practice head James Atkin and senior associate Raina Lal are recommended. “James is a great lawyer to have on your side. He is able to provide very useful and innovative resolutions to problems at hand,” says a client. Lal meanwhile is described as “a lawyer with an eye for detail”. One notable deal handled by the duo was their representation of Apache Corporation and its subsidiaries in developing the first LNG liquefaction facility and export terminal in Canada.