Mark Andrews

Representative experience includes:

• Representation of Saudi Aramco on all aspects of the project development and financing of the US$10.6 billion Amiral petrochemical expansion project of the existing SATORP refinery in Jubail, the Kingdom of Saudi Arabia. Project Amiral stands out as transformative in the global petrochemical sector given its scale and its ability to attract foreign direct investment into downstream derivative projects, thereby enhancing integration across the petrochemical value chain. This deal was recognised as "Petrochemical Deal of the Year" by PFI 2024.
• Representation of the sponsors in connection with the 5.5GW Haden, Muwayh and Al Khushaybi Solar IPPs in Saudi Arabia with a total investment value of approximately US$3.2 billion.
• Representation of NEOM Green Hydrogen Company, in an equal joint venture between ACWA Power, Air Products and NEOM, on the financing of the landmark US$8.4 billion NEOM Green Hydrogen Project powered by renewable energy for production and export of green hydrogen to global markets, capable of producing 650 tons per day of carbon-free hydrogen in the form of ammonia, to be located in Saudi Arabia.
• Representation of Saudi Aramco on a long term, US$15.5 billion infrastructure transaction with a consortium of investors led by affiliates of BlackRock Real Assets (BlackRock) and Hassana Investments Co. (Hassana), the investment management arm of the General Organisation for Social Insurance (GOSI) in Saudi Arabia, to optimize Saudi Aramco's gas pipeline network through a lease-and-lease-back arrangement.
• Representation of Saudi Aramco on a long term infrastructure deal with a consortium led by EIG Global Energy Partners (EIG), one of the world's leading infrastructure investors, to optimize its assets through a lease-and-lease-back arrangement involving its stabilized crude oil pipeline network.
• Representation of funds managed by EIG on the agreement to acquire the 1332 MW Combined Cycle Gas Turbine (CCGT) power station and 49 MW battery at West Burton B in Nottinghamshire, England from EDF Energy, and on related commercial and financing documentation. The transaction creates West Burton Energy as a leading supplier of electricity in the United Kingdom.
• Representation of African Development Bank (AfDB), Trade and Development Bank and Finnfund as lenders on the financing of the 35MW geothermal power project in Kenya. Menengai is a greenfield geothermal project and part of the first phase of the wider Menengai complex, one of the largest geothermal fields being developed in Kenya.
• Representation of the mandated lead arrangers on the provision of approximately US$1.1 billion of underwritten facilities for the acquisition of GTT Communications' telecoms infrastructure business by I Squared Capital.
• Representation of the lenders on a €334 million commercial bank term loan to Eastern and Southern African Trade and Development Bank with a guarantee from the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, the proceeds of which will be used for trade finance and COVID-related purposes.
• Representing Saudi Aramco, in its joint venture with The Dow Chemical Company, on the project financing for Sadara Chemical Company to build and operate a US$20 billion world-scale integrated chemicals and plastics complex located in Jubail Industrial City, Saudi Arabia. The US$12.5 billion multisourced financing was the largest ever project financing in the chemicals sector, with loans amounting to US$10.5 billion provided by a combination of the Public Investment Fund of Saudi Arabia, seven export credit agencies and a diverse range of commercial banks and Islamic financial institutions. A further US$2 billion was raised by way of a sukuk issuance. This project was selected as Middle East Petrochemical Deal of the Year 2013 by Project Finance Magazine, Project Finance Deal of the Year 2013 by IFLR and Global Finance Deal of the Year 2013 by the American Lawyer.
• Representing Rabigh Refining and Petrochemical Company, a joint venture between Saudi Aramco and Sumitomo Chemical Co., Ltd., in relation to the project financing of a US$9.9 billion refinery and petrochemical project located in Rabigh, Saudi Arabia.