Watson Farley & Williams (“WFW”) advised MET Group (“MET”) on its investment, by way of a partnership agreement with Celsius Group (“Celsius”), in one modern LNG carrier to be constructed by China Merchants Heavy Industry (Jiangsu).
The LNG carrier is scheduled to be delivered in 2027 and will support MET’s growing LNG activities. The purchase supports MET’s strategy to enhance its ability to supply its customers with LNG from various sources and marks MET’s inaugural maritime asset investment.
Opportunities within maritime
Swiss-headquartered MET Group is an integrated European energy company with assets in natural gas and power markets across the continent. Celsius is a pioneering Danish ship owner and operator focussed on sustainable, infrastructure investments and special opportunities within the maritime industry.
The multi-disciplinary WFW team that advised Met Group was led by London Partner and Global Maritime Sector Head George Macheras, assisted by Senior Associate Phil Chope. Partner Christina Howard, assisted by Associate Alice Halpin, provided corporate law and joint venture expertise, with Counsel Amelia Reffold and Partner Richard Stephens advising on time-charter and tax matters respectively. New York Partner Steven Hollander advised on Marshall Islands law.
LNG shipping sector
George commented: “We are thrilled to have assisted MET Group on their first venture into the maritime space generally and the LNG shipping sector in particular."
"We are also pleased to work once again with Celsius. The deal clearly leveraged WFW’s wide maritime expertise and showcases our ability to advise on all aspects and practices in the industry”.