Wikborg Rein is proud to have advised Gimi MS Corporation on the successful $1.2 billion refinancing of FLNG Gimi, a key floating liquefied natural gas (FLNG) asset supporting BP, Kosmos Energy and the national oil companies of Mauritania and Senegal in the Greater Tortue Ahmeyim (GTA) project.

The IMO recently introduced amendments to MARPOL Annex VI aimed at improving the technical and operational efficiencies of all types of ships. These amendments are expected to enter into force as soon as 1 January 2023. The amendments introduce the Energy Efficiency Existing Ship Index (EEXI), a technical measure concerned with ship design, and the Carbon Intensity Indicator (CII), an operational measure concerned with a ship’s trading and operation.

BIMCO and the Association of Ship Brokers & Agents (“ASBA”) recently released a dedicated gas tanker voyage charterparty, the ASBAGASVOY 2020. The form is a based on the well-established ASBATANKVOY form for product tankers and has been developed in response to the growth of the gas spot market.

In this article, we explore some of the key issues facing vessel owners when bidding for and negotiating floating LNG projects, whether for FLNG units (floating liquefaction) or FSRUs (floating storage and regasification)

Oil and Gas

Shipping

Shipping Offshore

Partner

Jonathan's practice focuses on the development and finance of offshore energy projects, with a specialist focus on the LNG sector. He advises on project tendering, vessel construction, EPCIC, financing, sale and purchase and leasing arrangements in respect of FSRUs, LNGCs, FLNG, FPSOs/FSOs, drilling units and drillships. He acts for some of the leading vessel owners and energy contractors, and handles a wide variety of projects in the oil and gas sectors. Jonathan has been particularly active on Floating Storage and Regasification (FSRU) projects in the LNG sector, advising on projects in Indonesia, India, Brazil, Dubai, Jordan and Jamaica among many others, as well as being at the forefront of the FLNG sector, having advised on one of the first floating liquefaction projects to be successfully implemented, in Cameroon. 

Client endorsements:

“Jonathan Goldfarb is particularly active in the LNG sector and draws warm praise from sources: 'He keeps on top of things and makes sure it all works'." (Chambers UK)

"Jonathan is very personable and likeable." (Chambers UK)

"Jon Goldfarb is a warm, principled person, with whom one can enjoy working even under stressful conditions. He takes a holistic approach to a client’s issues, and ensures that a proper balance is struck between defending one’s interests, and reaching a timely and efficient conclusion to a matter." (Legal 500 UK)

"Jonathan Goldfarb has exceptional knowledge of the law and the industry and is a cut above the rest in resolving complex legal problems." (Legal 500 UK)

"Jonathan is one of the finest lawyers and importantly, persons I have ever worked with. His focus on his client; command of his subject; and overall genuine nature is unparalleled." (LinkedIn Client Endorsement)

London

Ranked

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Jonathan's practice focuses on the development and finance of offshore energy projects, with a specialist focus on the LNG sector.

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Recognitions