White & Case Advised Saudi Aramco On US$11 Billion Jafurah Midstream Lease And Leaseback Deal

White & Case advised Saudi Aramco on US$11 billion Jafurah midstream lease and leaseback deal

White & Case LLP advised Saudi Aramco on a US$11 billion lease and leaseback transaction involving its Jafurah gas processing facilities, with a consortium of international investors led by funds managed by Global Infrastructure Partners (GIP), part of BlackRock.

As part of the transaction, Jafurah Midstream Gas Company (JMGC) will lease development and usage rights for the Jafurah Gas Plant and the Riyas NGL Fractionation Facility and lease them back to Saudi Aramco for a period of 20 years. JMGC will receive a tariff payable by Saudi Aramco in exchange for the exclusive right to receive, process, and treat raw gas from Jafurah. Saudi Aramco will retain a 51% majority stake in JMGC, with the remaining 49% held by the consortium of investors. The transaction is expected to close as soon as practicable, subject to customary closing conditions.

The White & Case team advising on the transaction was led by Michael Watson, Ivan Paskal, Carina Radford (all London), and Sonia Abdul-Rahman (Dubai), and included partners Marcus Booth (Dubai & London), Gary Kashar, Clark Wohlferd (both New York), Inigo Esteve (London), Sami Al-Louzi (Dubai), Nicole Erb (Washington, DC), Strati Sakellariou-Witt (Brussels), Waad Alkurini, Anwaar Alshammari, Majed Alkuraydis, Abdallah Maher, and Karim Mariey (all Riyadh), local partner Aleksandra Stadnik (Abu Dhabi), and associates Mayce Khari, Abdulrahman Moumena, Moayad Al Zahrani, Kahlid Al-Gublan, Husam Azhar (all Riyadh), Joss Cary, Tom Wilkinson (both London), Tomasso Poli (Brussels & Milan), Dara Brown (Washington, DC), Thomas Jacques, and Mohamed Dhaif (both Dubai).

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