Shearman & Sterling won "Oil and Gas Legal Advisor of the Year" and "Power Legal Advisor of the Year" at the prestigious Infrastructure Journal Awards in London. The firm was also shortlisted for Global Legal Adviser of the Year.

The independent judging panel praised the firm’s performance throughout 2009, singling out the key role it played in major deals worldwide and its work in emerging markets -- for example, advising on Turkmenistan's first project financing deal.

In particular, the judges agreed that Shearman & Sterling showed flexibility and resourcefulness when advising on the US$4.1 billion refinancing of Dolphin Energy’s cross-border Middle East oil and gas pipeline project. They also highlighted the firm’s achievements in advising on the innovative financing structure for the Al Dur independent water and power project in Bahrain.

"We are delighted to have won these important awards which highlight the strength and quality of the group globally. However, the real compliment paid to the group is by our clients—putting their faith in us to help them close these complex and sophisticated transactions at a time of such turmoil in the financial markets" said Nick Buckworth, head of project development and finance.

Last year Shearman & Sterling’s project development and finance team also advised on projects such as the first substantial foreign investment in Togo, Chinese ECA Sinosure’s first Middle East project financing venture and the financing of the acquisitions of the Midland Cogeneration facility in Connecticut, and Puget Sound Energy in Washington State.