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2019 LNG Opportunities – Lexcomm

Financing Vietnam Greenfield LNG Projects – HSBC

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Event Description

Is liquefied natural gas (LNG) compelling near-term for Vietnam to mitigate against security of supply risks in light of its declining domestic gas production, increased upstream production costs and downstream market developments? Prospects for the development, construction and financing of Vietnam’s large-scale multibillion-dollar greenfield LNG regas terminals/LNG-to-power projects in the dynamics of prevailing global gas supplies? Should such LNG projects be land based full-scale or floating (FSRU)?

Our guest speakers will discuss perspectives on the growth in LNG demand in the Asia Pacific markets and a plethora of project development issues under the existing Vietnam legal regime, including regulatory approvals and permits relating to the LNG industry, project structuring and contracting strategies across the LNG value chain, pass-through of project risks and liability allocation, LNG procurement, storage, regasification and delivery facilities, oil-indexed LNG pricing and long-term offtake agreements, shared infrastructure for LNG regasification terminals, pipelines and IPP power plants, capacity utilisation of LNG import terminals, third-party access regime, investment protection and tiered dispute resolution.

A second area of our focus is in respect of bankability/project financing considerations, including funding options, provision of long-tenor limited recourse debt financings from a full suite of lenders, loan syndication and finance (common terms) documentation, lenders’ step-in rights, viability gap funding (VGF) and host government support, sponsor support obligations, change of control restrictions, financial covenants, creditworthiness of key project counterparties, commodity and currency risks, long-term take-or-pay liability and termination payments, complexity of intercreditor issues and the role of multilateral lending agencies (MLAs) and export credit agencies (ECAs) in the provision of credit support to Vietnam’s multi-source project finance transactions in addition to direct loans from commercial banks.

The presentation will also provide an update on latest policy developments in relation to Vietnam’s proposed law on public private partnerships (PPP).

Agenda

11:30 AM	Registration
12:00 PM	Lunch is served
12:20 PM	Welcome Remarks & Introduction
12:25 PM	Presentation and Q&A
01:30 PM	Event ends

Costs

AmCham Members: VND 750,000 | Non-members: VND 900,000

Reservations/cancellations must be received by 24 hours before the event, and must be made on-line or by email. We are unable to accept reservations/cancellations by telephone.

Speakers

Pham Ba Linh
Managing Partner, Lexcomm Vietnam LLC
Head of Energy, Project Finance and Infrastructure
LLB (Hanoi), LLM (Nottingham, England), FSIArb

Ba Linh is a seasoned and technically skilled transactional lawyer of preeminent full-service commercial law firm Lexcomm Vietnam LLC with more than 20 years of legal practice, focusing primarily on energy and natural resources, projects and infrastructure, public-private partnerships (PPP), project finance, leveraged and acquisition finance, debt and equity capital markets, derivatives and structured products.

Ba Linh regularly advises international energy companies on a broad variety of multibillion-dollar landmark energy and infrastructure projects in Vietnam and Australia, having previously based in Hanoi, Ho Chi Minh City and Melbourne. He has acted for international banks, joint lead arrangers, multilateral lending agencies (MLAs), export credit agencies (ECAs), sponsors, infrastructure and energy funds, private equity firms, institutional investors and major works contractors.

Ba Linh has been consistently ranked as a leading lawyer by prestigious independent authoritative guides to law firms in Vietnam, including The Legal 500 Asia Pacific, IFLR1000, Chambers Asia Pacific and Asialaw Leading Lawyers, for his technical legal excellence and outstanding commercial expertise. In particular, Lexcomm Vietnam LLC is ranked a Tier 1 law firm in Projects and Energy by Legal 500 for 2019, and Ba Linh has received the accolade of being named one of the very top few energy and infrastructure lawyers in the Vietnam market.

Client testimonials include “Pham Ba Linh is ‘a go-to lawyer for Vietnam energy advice – he understands the industry and what is going on in the market’”, “Wow, Ba Linh is a very experienced lawyer in oil and gas, energy, infrastructure and project financing”, “one of the best energy and infrastructure lawyers in Vietnam”, “top quality, particularly in oil & gas and energy”, “responsive and always willing to go the extra mile”, “a very high level of service, market insight and genuine industry expertise”, “he thoroughly understands clients’ business needs and provides practical advice”, who “advises international oil companies on block developments and farm-ins regarding oil and gas blocks, and also serves as local counsel for developers of gigawatt-plus coal fired power stations”.

Ba Linh is a member of the Association of International Petroleum Negotiators (AIPN) sitting on its Vietnam Steering Committee, and an active member of the Oil and Gas Law, Power Law and International Construction Projects Committees of the International Bar Association (IBA). He currently serves as Corporate Counsel Forum and Asia Pacific Liaison Officer of the IBA Oil and Gas Law Committee, and is also a Fellow of the Singapore Institute of Arbitrators (SIArb). Ba Linh is admitted to practice in Vietnam as a lawyer of the Hanoi Bar Association.

Lam Thuy Nga
Head of Corporate Banking North
HSBC Bank (Vietnam) Ltd.

Nga is currently Head of Corporate Banking North of HSBC Vietnam. In this role, she is responsible for a wide range of local private corporates and state-owned enterprises in the North of Vietnam. Nga joined HSBC in 2006 and has served in various roles across different functions including Global Trade and Receivables Finance, Commercial Banking and Whole Sale Banking.

Nga has involved in numbers of high-profile transactions in the market including Project Financing, Export Credit Agencies (ECAs), Syndicated Term loan, Corporate loans in which HSBC acted as Coordinating Bank, Mandated Lead Arranger and Bookrunner (MLAB). Notable transactions are the financing to PetroVietnam Power Plants; Binh Son Refinery’s Polypropylene Unit; Nghi Son Refinery and Petrochemical Project, Vingroup Automotive Project – VinFast.

Nga holds a Bachelor of Science in Banking and Finance from the National Economics University Hanoi, and a Master in Finance jointly granted by ESCP Europe and Paris Dauphine University.