Lauren Davies

Practice Areas

Lauren advises on the development and financing of projects in the energy and infrastructure sectors, acting for clients on complex projects in emerging markets and across the globe. In particular Lauren has extensive experience in project finance, advising project companies, sponsors, host governments and lenders in connection with the development and financing of projects in the oil and gas, petrochemical, mining and metals, LNG, port and infrastructure sectors.

Experience Highlights

STAR Rafineri A.Ş., a subsidiary of the State Oil Company of the Azerbaijan Republic (SOCAR), and its sponsors on the development and financing of a $6.3 billion greenfield oil refinery in Turkey on the Aegean Sea. This is the largest project financing in Turkey and involves the largest and most diverse group of ECAs for any multi-source financing in Turkey to date. The STAR project sets new benchmarks for project financings in Turkey in terms of amount and tenor of facilities

A joint venture between SOCAR Turkey Enerji A. Ş. and a subsidiary of BP plc on the proposed development and financing of a $1.8 billion petrochemical industrial complex in Turkey on the Aegean Sea

Petkim Petrokimya Holding A.Ş., a leading Turkish petrochemical producer, in connection with a $300 million loan facility from J.P. Morgan Securities plc to finance the redemption of Petkim’s five-year, $500 million Eurobonds

Funds managed by Apollo in the $2 billion sale by New Fortress Energy Inc. of 11 LNG infrastructure vessels to a newly formed venture owned approximately 80% by Apollo funds and 20% by NFE

Uzbekistan GTL on the construction, development and financing of a $3.6 billion gas to liquids project in the Kashkadarya Region, close to Karshi, in the Republic of Uzbekistan. This project is financed by or under the cover of several export credit agencies, development banks and commercial banks, including China Development Bank, KEXIM, KSure, EXIAR and Gazprombank

ShaMaran Petroleum Corp. on the signed acquisition of 100% of the shares of TEPKRI Sarsang A/S, the holder of an 18% participating interest in the Sarsang Block located in the Kurdistan Region of Iraq, from TotalEnergies for a potential total value of $170 million

SOCAR and its subsidiary SOCAR Turkey in connection with a $1.3 billion equivalent syndicated loan facility to refinance existing financial liabilities. At the time of signing the transaction represented the largest syndicated loan arrangement completed in 2021 by a non-financial company in Turkey

An investor in connection with the acquisition of working interests in a field in the U.S. Gulf of Mexico and the related project financing arrangements

A multinational oil and gas company in respect of its proposed financing arrangements in connection with a potential equity investment in a greenfield LNG liquefaction project

A joint venture among Korean Gas Corp (KOGAS), Honam Petrochemical Corp, STX Energy and Uzbekneftegas, on the development and financing (led by the Asian Development Bank, KEXIM, and KSure) of the approximately $3.9 billion Surgil upstream gas and petrochemicals project

Eurochem on the construction and financing of an approximately $1 billion dollar ammonia complex to be located within the existing Phosphorit industrial complex at Kingisepp in the Russian Federation

SOCAR Turkey Enerji A.Ş. and its shareholder SOCAR in connection with a $300 million loan facility to refinance existing financial liabilities

SOCAR on its entry into a $500 million bilateral loan agreement and a $300 million bilateral loan agreement for, among other things, general corporate purposes

SOCAR GPC on its proposed multibillion dollar development and financing of a gas processing plant and petrochemicals facility in Azerbaijan

SOCAR Polymer on the approximately $800 million development and financing of facilities for the production of polypropylene and high-density polyethylene in the Republic of Azerbaijan

Helios Investment Partners on its in its acquisition and financing of an Africa-based fertilizer and industrial inputs group in 2017 – awarded Commodity Acquisition Finance Deal of the Year 2017 by TXF, TXF noted the deal was “the first structure of its kind within the commodity finance space, [the fund]’s innovative blend of leverage finance and trade finance techniques raised both the necessary funding for its purchase, and post-acquisition trade finance for the acquired asset”

The sponsors to the SOCAR Aurora Fujairah Terminal project in connection with the early repayment of project financing loans and the related release of a multi-jurisdictional security package, in connection with the sale of the underlying oil products terminal in the Port of Fujairah

SOCAR Turcas Petrokimya AS on a $1 billion loan facility arranged by Credit Suisse to refinance an existing acquisition loan facility and to finance the final instalment of the purchase price for Petkim Petrokimya Holding A.S.

A Toronto Stock Exchange and AIM-listed company on a $600 million seven-year loan facility to be provided by Qatar Holding LLC, the investment arm of Qatar’s sovereign wealth fund, and a $150 million loan note facility to finance the development of the Skouries and Olympias gold projects in Greece

A Turkey-based petrochemical company in connection with the construction, financing, and operation of a container port on the Aegean coast of Turkey

The EBRD in connection with an equity investment in GV Gold, a Russian mining company

Equinor (formerly Statoil) in connection with the proposed development and financing of the approximately $20 billion Phase 1 of the Shtokman gas, condensate, and LNG project with Gazprom and Total

A large international mining company in connection with the proposed development and financing of a multibillion dollar integrated iron ore and rail project in west Africa