London, January 2, 2008—Shearman & Sterling has been named “Global Law Firm of the Year” in Project Finance International’s (PFI) mega-project awards for 2008.

In its announcement, PFI said that competition was stiff, as it has been a buoyant year for a number of firms in the projects market. But PFI cited Shearman & Sterling’s geographical spread of deals as setting the firm apart from the competition.

The firm had a total of 18 US$500 million-plus projects globally, including eight in the EMEA region, seven in the Americas and three in Asia Pacific, which the publication cited as a particularly difficult market in which to build momentum. The award acknowledges a number of noteworthy projects that the firm has worked on over the last 12 months, including the US$4.1 billion Marafiq in Saudi Arabia, US$2 billion Blue City in Oman, US$1.8 billion Fujairah IWPP in the UAE, US$2.4 billion Carrix deal and the IPS Nanjing Refinancing in China.

Commenting on the award, Nick Buckworth, head of Shearman & Sterling’s Project Development & Finance (PDF) group, said:  “We are delighted with this award. PFI focuses on the deals that really matter globally—large scale complex projects across the key industry sectors. This is our business. It is a great compliment to the quality of our team and to the firm’s global strategy.”

Shearman & Sterling also advised on PFI’s “EMEA Power Deal of the Year,” which was won for Marafiq’s Jubail scheme, the world’s largest-ever independent water and power project (IWPP).

For additional information contact:
Hayley Martin | London | T +44 20 7655 5986 |