Dentons advises Petronas on Shah Deniz stake

Dentons, the global law firm, has advised Petronas, the Malaysian oil and gas giant, on its acquisition of the 15.5 per cent Statoil stake in the Azerbaijani Shah Deniz gas field production-sharing agreement, including associated pipelines. The deal was completed in April 2015.

Shah Deniz is one of the largest gas projects in the world, paving the way for Caspian gas to be delivered directly to European markets for the first time through the Southern Energy corridor into Italy, thereby providing diversity of supply for Europe.

This major transaction was completed in a short time period due to Petronas’ focused in-house legal and commercial teams. The deal represents one of Petronas’ largest acquisition deals.

The Dentons team was led by Humphrey Douglas, Energy Partner; Nigel Webber, Corporate Partner; and James Hogan, Partner, Azerbaijan. Senior Associates included Joseph Altendorf, Helen Bowdren and Ophelia Abdullayeva.