The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.Read the full edition
Al Tamimi & Company, the leading law firm in the Middle East and North Africa (MENA), has advised BlackRock Global Energy & Power Infrastructure Fund III (“BlackRock”) as lead member of a consortium on the purchase of an equity stake in Aramco Gas Pipelines Company for $15.5 billion.
The transaction marks one of the world’s largest energy infrastructure deals, where Aramco will hold a 51% majority stake in Aramco Gas Pipeline Company and sell a 49% stake to investors led by BlackRock. As part of the transaction, the newly-formed subsidiary, Aramco Gas Pipelines Company, will lease usage rights in Saudi Aramco’s gas pipelines network and lease them back to Aramco for a 20-year period.
“Saudi Arabia is a key market for the firm and we have dedicated time and resources to build a strong presence and house the right capabilities in the Kingdom. Working on a transaction of this magnitude highlights our in-country expertise and experience, and this played a vital role in advising BlackRock to successfully acquire an equity stake in Aramco Gas Pipelines Company.
“The team is proud to have been part of this landmark deal. We worked closely with BlackRock’s lead Legal Advisor Slaughter & May to get this deal over the line.
“We provided advice on a wide range of Saudi legal and regulatory issues including Corporate and Competition Law, regulatory, banking and security, and tax. In addition, Al Tamimi & Company provided Saudi Law review and related drafting of the transaction documents.”
The deal, is part of Saudi Arabia’s drive to sell assets and use the money to fund new industries, from artificial intelligence to electric vehicles, while also increasing output of both oil and gas.