Kim & Chang is assisting a major Korean Independent Power Producer (the “Sponsor”) to develop the Long An Liquefied Natural Gas (“LNG”) 1 and 2 projects in Vietnam, which have a combined capacity of 3,000 MW. Our firm’s work scope includes re-financing and provision of credit support, procurement of project site, restructuring of ownership and provision of support to the project counsel to discuss bankability issues with the Vietnamese government. We are also assisting to negotiate project documents along with the project counsel (i.e., LNG Sales and Purchase Agreement, Terminal Use Agreement, Engineering, Procurement and Construction (“EPC”) and Operation and Maintenance (“O&M”) for the power plants, Power Purchase Agreement, Grid Connection Agreement, etc.) and to support on the project financing, which includes the Korean Export Credit Agency (“ECA”) lender(s).

Considering the complex nature of an integrated LNG to power project and the current lack of a bankable solution for investors to develop the project in Vietnam, much efforts have been put towards developing and creating the law, regulations and practices to be suitable to the international lenders. Our firm has been engaged from the beginning of the project to help the Sponsor structure the project in a most effective and efficient manner.