Watson, Farley & Williams Asia Practice LLP (“WFW”) is pleased to announce that it has advised Golar LNG Group on a US$155 million term facility and a US$20 million revolving facility for the financing of Indonesia’s first floating storage and regasification unit (FSRU), “Nusantara Regas Satu” (formerly known as the “Khannur”).
This is also the first floating regasification facility in South East Asia.
The FSRU is chartered to PT Nusantara Regas, a joint-venture between Pertamina and Perusahaan Gas Negara. It has a capacity of 500 million cubic feet per day. The vessel is Indonesian-flagged in compliance with Indonesian cabotage requirements.
The facility was provided by a syndicate of lenders including PT Bank Sumitomo Mitsui Indonesia, The Bank of Tokyo-Mitsubishi UFJ, Oversea-Chinese Banking Corporation Limited and Standard Chartered Bank.
The WFW team was led by partner Andrew Nimmo, assisted by senior associate Shawn Er.
Andrew Nimmo commented: “We are delighted to have worked with Golar on this landmark facility which marks the first project of its kind in Indonesia”.