King & Wood Mallesons (KWM) and Herbert Smith Freehills have advised on one of the most significant energy investments in Australia by a Chinese company – China National Offshore Oil Corporation’s (CNOOC’s) acquisition of BG Group’s stake in the Australian liquefied natural gas (LNG) project Queensland Curtis.
The deal has seen CNOOC agree to acquire a 40% stake in the first production train of the project, in which it already owns a 10% stake, as well as equity in other parts of BG’s Queensland interests, for $1.93bn (£1.22bn).
