HOUSTON, July 6, 2004 - The Houston office of King & Spalding LLP advised Freeport LNG Development, L.P. on the finalization of its transaction with ConocoPhillips for the use of a proposed liquefied natural gas (LNG) receiving terminal in Quintana Island, Brazoria County, Texas. The transaction closed July 2nd and was announced today.
King & Spalding served as sole counsel to Freeport on all LNG terminalling services and construction aspects of the transaction. King & Spalding Partners Philip R. Weems and Scott A. Greer led the team advising Freeport LNG.
In June, the firm secured from the U.S. Federal Energy Regulatory Commission the approvals needed for Freeport LNG to build the new import terminal in Texas. King & Spalding Counsel Lisa Tonery, based in the Firm's New York office, led the regulatory efforts leading to obtaining FERC's approval.
In light of the fact that it has now been permitted and financed, the first new onshore terminal to be built in the U.S. in over 20 years is set to begin construction during the third quarter of 2004. A news release announcing the deal can be found here: http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20040706005415&newsLang=en.
King & Spalding's Houston-based energy practice has been consistently ranked by legal industry guides, including Chambers USA, as one of the top firms in the field. The Firm's LNG practice is one of the most active in the world. King & Spalding opened its Houston office in 1995 with three litigation attorneys; today the office has grown to more than 65 attorneys focusing on a diverse array of litigation and transactional law.
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King & Spalding LLP is an international law firm with more than 750 lawyers in Atlanta, Houston, London, New York and Washington, D.C. The firm represents more than half of the Fortune 100.