Ashurst advises lending syndicate on US$250 million dual currency facilities for petroleum pipeline expansion in Thailand 

The project involves a 342.8-kilometer underground pipeline extension with an annual transport capacity of approximately 5,443 million litres, connecting the Thai Petroleum Pipeline Co., Ltd Terminal in Saraburi to TPN’s owned terminal with storage capacity of 142 million liters in Khon Kaen. Upon completion, the project is expected to serve the northeastern Thai market  in a more cost-effective and environmentally-friendly manner compared to the current trucking and railway transportation of petroleum to the region.

The project's construction is being undertaken by a consortium led by China Petroleum Pipeline Engineering Co., Ltd., a major Chinese oil and gas pipeline engineering company.

The Ashurst team was led by banking partner Chen Chin Chuan, assisted by senior associate Fan Zhibin and lawyers Anthony Ong and Wang Hao. Projects partner Daniel Reinbott and counsel Jessica Ham provided additional oil and gas industry support. Chandler MHM Limited provided Thai law advice for the lenders.

Ashurst is a leading firm advising lenders, sponsors, EPC contractors and other players in the oil and gas industry globally and oil and gas infrastructure. The team has been advising the lending syndicates on various Chinese outbound pipeline financings including the series of project financings of Lines A/B and C of the China-Central Asia gas pipeline in Uzbekistan and Kazakhstan and had also advised on the project financing of the Beineu-Shymkent gas pipeline in Kazakhstan.