Originally intended to produce liquefied natural gas for domestic use, the LNG facility belonging to Houston-based Freeport LNG Development in Texas now produces so much gas for export that it could eventually reduce the U.S. trade deficit by a full percentage point. White & Case’s Jason Webber has been there “every step of the way,” providing counsel on the financing of the mammoth project, says Aaron Neus, Freeport’s vice president of business development.
In the project’s latest phase, Webber represented Freeport in the $4.6 billion funding of the third unit, or “train,” of the facility, helping the company obtain $3.64 billion of nonrecourse senior secured debt from a syndicate of 27 commercial banks.
