David Baker
Biography
Overview
David advises clients on all aspects of energy infrastructure and project finance within the oil & gas, power, and related industries. By bringing clarity to highly complex transactions, he enables his clients to benefit from the best possible results.
David's broad domestic and international experience has given him a thorough grasp of the global oil & gas and power markets. He has particularly extensive experience in the UK upstream and energy business and the international gas market, including LNG project financings in various jurisdictions covering Europe, Africa and Asia.
David sits within the Firm's Project Development and Finance Group in London, a market-leading team committed to advising clients on the financing of major projects within the energy industries. He is active in professional circles and is a member of the United Kingdom Energy Lawyers' Group. He is also a member of the International Bar Association and the City of London Law Society.
Experience
Eni Acquisition of Neptune Energy
Representation of Eni S.p.A. (Eni) on its agreement to acquire Neptune Energy Group Limited (Neptune) for a total value of €4.9 billion.
Atlantic LNG Project
Representation of the Government of the Republic of Trinidad and Tobago, acting through its Ministry of Energy and Energy Industries, on the restructuring of the Atlantic LNG project located in Trinidad and Tobago. The Atlantic LNG facility, owned by Shell Trinidad and Tobago Limited, BP Trinidad and Tobago LLC, and the National Gas Company of Trinidad and Tobago Limited, is one of the largest LNG export facilities in the Western Hemisphere and is a critically important component of Trinidad and Tobago's energy industry infrastructure.
Nigeria LNG Train 7
Representation of the financiers on a landmark US$3 billion first in class hybrid corporate financing to Nigeria LNG Limited (NLNG), a joint venture owned by Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni to develop the NLNG Train 7 Project. Awarded “African LNG Deal of the Year” at the PFI Awards 2020.
Mozambique LNG
Representation of the financiers on a landmark US$20 billion project financing of Mozambique's first onshore LNG development, Mozambique LNG. This is the largest ever foreign direct investment into Africa. Awarded “Global Multilateral Deal of the Year” at the PFI Awards 2020.
Neste
Representation of Neste on the sale of its base oils business to Chevron Corporation.
Hess / INEOS
Representation of Hess Corporation on its sale of the entire share capital of Hess Denmark ApS to INEOS E&P A/S. Hess Denmark owns Danish North Sea exploration and production assets of the Hess group.
Harbour Energy
Representation of Harbour Energy Limited (Harbour Energy), the energy investment vehicle managed by EIG Global Energy Partners (EIG), on its agreement to lead the US$3 billion acquisition by Chrysaor Holdings Limited (Chrysaor) of a diversified portfolio of oil and natural gas assets in the North Sea from Shell UK and its affiliates.
Yamal LNG Project in Russia
Representation of over 13 lender groups, including several export credit agencies, in connection with the proposed financing of the multibillion Yamal LNG project in Russia.
Brass LNG Project
Representation of Brass LNG Limited (Brass), whose shareholders are Total, Eni and NNPC, in the financing of its two-train 10 MMTPA onshore liquefaction plant in Brass Island, Bayelsa State in Nigeria's Central Niger Delta.
Qatargas 2, 3 and 4 LNG Projects
Representation of the sponsors, Qatar Petroleum and ConocoPhillips, and Qatar Petroleum and Shell respectively in connection with the financing of the Qatargas 2, 3 and 4 LNG Projects. This involves the integrated development of upstream gas production facilities, three LNG trains and shipping of the LNG to the intended markets in North America and Europe.
Sakhalin II (Phase 2) LNG Project
Representation of JBIC and the international commercial banks in connection with the US$20 billion project financing of the Sakhalin II (Phase 2) integrated oil & gas and LNG Project in Russia.
Nabucco Gas Pipeline Project
Representation of the lenders on the proposed multibillion dollar Nabucco pipeline project. The pipeline was to link Türkiye and Austria – one of the most important gas hubs in Central Europe – via Bulgaria, Romania and Hungary.
Nord Stream Gas Pipeline Project
Representation of Nord Stream AG in connection with Phase 1 and Phase 2 of the €9bn Nord Stream gas pipeline project connecting the Russian and European gas grids, which raised €6.5bn of debt in the international project finance market (supported by Hermes, SACE and UFK).
Upstream Oil & Gas Interests
Representation of a major national oil company in relation to certain petroleum operations in the Kurdistan region of Iraq and in respect of its proposed acquisition of upstream oil & gas assets in the UK.
Leviathan Gas Project
Representation of Noble Energy as operator in the structuring, development and financing of its interest in the Leviathan field.
Iberdrola LNG SPAs
Representation of Iberdrola S.A. in connection with LNG sale and purchase agreements (SPAs).
Landsvirkjun Interconnector Project
Representation of Landsvirkjun in connection with its proposed landmark multibillion dollar interconnector from Iceland to the UK.
Cernavoda Nuclear Power Project
Representation of the project company in all aspects related to the pre-project phase for the development, construction and operation of Cernavoda nuclear power plant units 3 and 4 in Romania.
GMR Infrastructure Limited
Representation of GMR Infrastructure Limited in connection with the largest ever acquisition of a global energy utility by an Indian company. Under the deal GMR, which has holdings in energy, airports, highways and urban infrastructure, has agreed to purchase a 50 percent stake in the global power generation company InterGen N.V. for US$1.1 billion.
ESKOM
Representation of ESKOM in connection with a range of projects in the power sector, including their flagship multisite baseload IPP program, their cogeneration program (currently 5,000 MW of capacity bid), on their medium term power program (up to 3,000 MW), a multibillion dollar nuclear power plant and a fleet of nuclear plant options.
Hall of Fame: Oil & Gas
Legal 500 UK 2024
Leading Lawyer: Projects
Chambers UK 2013–2024, Chambers Global 2013–2024
Leading Lawyer: Energy & Natural Resources: Oil & Gas
Chambers Global 2013–2024