NEW YORK, NY--(Marketwire - March 5, 2010) - An oil storage tank development deal King & Spalding had a key role in executing was named Latin American Refinancing Deal of the Year for 2009 by Project Finance magazine last night at an awards dinner in New York City. King & Spalding client Petroterminal de Panama S.A. (PTP) received the award for the development of crude oil storage tanks in the Republic of Panama.
King & Spalding advised PTP in October 2009 on engineering, procurement and construction agreements with CBI Americas Ltd. and Horton CBI, Limited -- a transaction that significantly expanded PTP's existing storage tank farm with the addition of tanks on both the Pacific and Atlantic coasts of Panama.
The King & Spalding construction transactional legal team advising PTP on the deal included partner Scott A. Greer, counsel Sandra L. Cofer and associates Angelica G. Alfaro, Robert B. Garner and Shaw C. Ottis, all of the energy/construction practice in the firm's Houston office.
Panama City-based PTP operates crude oil handling facilities on the Atlantic and Pacific coasts of Panama, a 131-kilometer oil pipeline that runs through the Panamanian isthmus, energy generation power plants and a general cargo pier on the country's Atlantic coast.
King & Spalding is one of the most active law firms in the global energy industry. The firm's construction transactional practice, located in Houston, London, Abu Dhabi and Atlanta, is one of the largest of its kind in the world and represents owners and developers on a wide range of energy projects in the United States, Latin America, Middle East, Europe, Africa and Asia, including oil and gas, LNG and power projects.
Project Finance magazine, founded 26 years ago, covers a range of sectors including oil and gas, power, renewables, transport and public-private-partnership. The magazine's subscribers are global and comprise project developers, bankers, consultants, lawyers, multilaterals and the public sector. The Project Finance Awards -- the first in the industry and started 11 years ago -- are for innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects, large or small. On average 300-350 of the best deals of the given year are entered for the awards.
About King & Spalding
Celebrating 125 years of service, King & Spalding is an international law firm with more than 800 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Paris, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and, according to a Corporate Counsel survey in August 2009, ranks fifth in its total number of representations of those companies. For additional information, visit www.kslaw.com.
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Kimberly Brooks
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