Nabil Khodadad

Information about the specialist

Practice Areas

Based in the firm’s London office, Nabil is global co-head of the Project Finance practice, and heads the firm’s Middle East and CIS practices. He has been based in London for more than two decades and has extensive experience in project finance and privatizations. Nabil has advised on oil and gas, pipeline, petrochemical, mining and metals, power, port, and other projects in more than 35 countries. He has also served on the Documentation Committee of the Loan Market Association (LMA).

Nabil has been ranked as a leading project finance lawyer by Chambers and Partners in the Chambers UK Guide (2007 to 2022). He has also been ranked as a “Leader in their Field” in international mining by Chambers UK (2011 to 2015).

Experience Highlights

STAR Rafineri A.S. a subsidiary of the State Oil Company of the Azerbaijan Republic (SOCAR) and its sponsors on the development and financing of a $6.3 billion greenfield oil refinery in Turkey on the Aegean Sea. This is the largest project financing in Turkey and involves the largest and most diverse group of ECAs for any multi-source financing in Turkey to date. The STAR project sets new benchmarks for project financings in Turkey in terms of amount and tenor of facilities. The Project won 10 awards including Infrastructure Journal’s “European Oil and Gas Deal of the Year 2014”

A joint venture among Korean Gas Corp (KOGAS), Lotte Chemical, STX Energy, and Uzbekneftegas, on the development of the approximately $3.9 billion Surgil upstream gas and petrochemicals project and the Asian Development Bank, KEXIM, and KSure-led financing thereof; Project Finance International’s “Petrochemical Deal of the Year 2012”, Infrastructure Journal’s “Oil and Gas Deal of the Year 2013”, The American Lawyer’s “Global Finance Deal of the Year: Project Finance (Asia) 2014”, and the largest project financing in Central Asia

Uzbekistan GTL on the construction, development and financing of a $3.6 billion gas to liquids project in the Kashkadarya Region, close to Karshi, in the Republic of Uzbekistan. This project is financed by or under the cover of several export credit agencies, development banks and commercial banks, including China Development Bank, KEXIM, KSure, EXIAR and Gazprombank

SOCAR GPC on its proposed multibillion dollar development and financing of a gas processing plant and petrochemicals facility in Azerbaijan

Eurochem on the approximately $1 billion construction and ECA-led financing of an ammonia complex in Russia

Nauticol Energy on the financing and development of the Becancour Methanol project in Quebec, Canada

Nauticol Energy on the financing and development of a methanol project in Alberta, Canada

SOCAR and its subsidiary SOCAR Turkey in connection with a $1.3 billion equivalent syndicated loan facility to refinance existing financial liabilities. At the time of signing the transaction represented the largest syndicated loan arrangement completed in 2021 by a non-financial company in Turkey

SOCAR Turkey Enerji A.S. and its shareholder SOCAR in connection with a $300 million loan facility to refinance existing financial liabilities

SOCAR on its entry into a $500 million bilateral loan agreement and a $300 million bilateral loan agreement for, among other things, general corporate purposes

SOCAR Turcas Petrokimya AS on a $1 billion loan facility arranged by Credit Suisse to refinance an existing acquisition loan facility and to finance the final instalment of the purchase price for Petkim Petrokimya Holding A.S.

Eskom on a $3.75 billion World Bank loan to finance the construction of the Medupi coal-fired power plant and an associated transmission line, a wind power plant, and a solar power plant

SOCAR Polymer on the approximately $800 million development and financing of facilities for the production of polypropylene and high-density polyethylene in the Republic of Azerbaijan