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Clifford Chance

Clifford Chance
Craig Nethercott

Craig Nethercott

Partner

Partner
Craig Nethercott

Craig Nethercott is a partner in the Global Energy & Infrastructure Group at Clifford Chance. He has experience in project finance, banking, capital markets, and Islamic finance. Craig has advised on transactions in Europe, the Middle East, Africa, and Asia.

He is ranked Band 1 for Projects by Chambers UK 2024.

Global Project Development & Finance

One team. Globally connected.

Oil and Gas/Transition

  • Middle East national oil company in connection with the development and financing of a world-scale carbon capture project.
  • The sponsors, led by Total, in connection with the US$20 billion financing by several ECAs of the development of an LNG Project in Mozambique. The transaction was named “Global Multilateral Deal of the Year” of 2020 by Project Finance International.
  • The ECAs (SACE and Euler Hermes) in connection with the brownfield expansion of an ammonia plant in Egypt.
  • The underwriters in relation to the US$29.4 billion IPO and listing of Saudi Arabian Oil Company (Saudi Aramco) on Tadawul – the largest IPO of all time.
  • The underwriters in connection with the establishment of Saudi Aramco’s GMTN program and the issuance of $12bn under the program.
  • Export Credit Agencies (K-Exim, K-Sure, SACE, UKEF and Atradius) and the commercial banks in the financing of the US$6.25 billion Clean Fuels Refinery Project in Kuwait.
  • The underwriters in connection with SABIC’s $2 billion notes offering.
  • BAPCO Energies in connection with the establishment of its $3bn GMTN program and subsequent conventional and Shari’ah compliant issuances thereunder.
  • The ECAs and Lenders in connection with the financing of the Duqm Refinery in Oman operated by OQ and Kuwait Petroleum.
  • SABIC in the financing of a Nexlene PE joint venture with SK Global Chemical.
  • Commercial lenders in connection with the acquisition financing of the Sadara tank farm facilities in Saudi Arabia by SABIC.
  • Saudi Aramco in the financing of the US$9.9 billion Rabigh Refinery and Petrochemical Project in Saudi Arabia.
  • Qatar Petroleum in the financing of the QGII, QG3 and QG4 LNG trains in Qatar.
  • The commercial lenders in the financing of the Nigeria LNG Plus expansion project.

Sovereign/GRE Representation

  • A Middle Eastern SWF in connection with its debut $11bn international debt facilities.
  • The Kingdom of Saudi Arabia in connection with its US$17.5 billion debut 144A sovereign bond issuance and subsequent US$9 billion debut sovereign Sukuk.
  • The underwriters in connection with the US$4 billion debut sovereign Sukuk offering by Qatar.
  • The Kingdom of Saudi Arabia in connection with its US$10 billion commercial lender sovereign facility.

Metals and Mining

  • Acting on the financing of numerous greenfield smelters and expansion projects, including Mozal I and Mozal II (Mozambique), Sohar (Oman), Rusal Khaz (Russia), EMAL (UAE), Qatalum (Qatar), Sarawak (Malaysia), and Alba (Bahrain).
  • The commercial banks on the SAR11.4 billion refinancing for Maaden Phospate Company in Saudi Arabia.
  • Bin Jarallah Group in the financing of a seamless steel pipe plant in Saudi Arabia.
  • Norsk Hydro in connection with the financing of aluminium and alumina assets acquired from Vale in Brazil.
  • Sohar Alumnium in connection with the original financing of the development of the an aluminium smelter in Oman (and the subsequent refinancing of same).
  • Aluminium Bahrain in connection with the $3 bn Line 6 Expansion (6th potline and 1792 MW power plant) financing.

Power and Water

  • GDF Suez, Sumitomo Corporation and Al Sagar in connection with the US$1.4 billion financing of the 1500MW and 107 MGPD IWPP in Kuwait.
  • Citi, BNPP, Mizuho, Standard Chartered and NBAD as underwriters in connection with the US$825 million 144A bond refinancing of the Shuweihat 2 Ruwais power and water plant in Abu Dhabi.
  • Commercial lenders in connection with the $1.3bn Al Durr power plant in Bahrain.
  • Commercial and Islamic finance parties in connection with the PP-11 1750 MW IPP in Saudi Arabia.
  • Commercial lenders and Islamic finance parties in connection with the Rabigh IPP in Saudi Arabia.
  • Commercial lenders, K-Exim and K-Sure financing provided to Saudi Electricity Company in connection with the Rabigh 6, Jeddah South and Shuqaiq power plants in Saudi Arabia.
    Telecommunications

Telecoms

  • Mobily (Etihad Etisalat) in connection with its initial mobile license financing and all of its other financings arrangements since the formation of the company in 2004.
  • Commercial and Islamic finance parties in connection with the US$7.5 billion financing provided to Zain KSA the third mobile licensee in Saudi Arabia.
  • Etisalat Misr in connection with the financing of its mobile license in Egypt.
  • COFACE and the commercial lenders in connection with the US$586 million constellation satellite financing provided to Globalstar.

Transport

  • Nakilat (Qatari LNG shipping) in connection with their $5bn debt program.
  • The commercial lenders in connection with the Salalah Port expansion in Oman.
  • The international development institutions in connection with the expansion of the Colombo Port in Sri Lanka.
  • The commercial and Islamic finance parties in connection with the expansion and upgrade of the Hajj Terminal Concession project.

News and client work

View all news and client work featuring Craig Nethercott

Contact details

Career and qualifications

  • University College Dublin (BCL) 1991
  • Queens University Belfast (LLM) 1993
  • Admitted as a solicitor in Ireland, 1995
  • Admitted to New York Bar, 1996
  • Admitted as solicitor in England & Wales, 1997
  • Partner since 2003
  • Joined Clifford Chance as a partner September 2023

Awards and citations

  • Ranked Band 1 – UK Projects (2023)
    Chambers and Partners. 
  • Ranked Band 1 – UK Projects (2022)
    Chambers and Partners. 
  • Ranked Band 1 by Chambers Global 2020 for Middle East-wide, Projects and Energy
  • Ranked Band 1 for Saudi Arabia – Banking and Finance.
  • "Craig provides fantastic client service."
    Chambers UK 2023
  • "A key name for financing work and stands out for his Islamic finance expertise; he is active in a broad range of geographies."
    The Legal 500 UK 2023
  • Craig Nethercott "is a very good lawyer who is smart and commercial."
    Chambers UK 2021
  • Clients say: "He is very commercial, understands relationships very quickly and is able to explain complexities."
    Chambers UK 2020