Shearman & Sterling won Project Finance International's "Middle East Infrastructure Deal of the Year" for its work on the US$300 million Muharraq wastewater treatment plant project in Bahrain. The deal closed successfully on schedule despite ongoing turbulence in the country and elsewhere in the Middle East.

The firm was also awarded "Asia-Pacific Power Deal of the Year" for its involvement in securing the US$1.4 billion 18-year debt facility for the US$1.95 billion AES-VCM Mong Duong Power Co in Vietnam. The deal was the first independent power producer (IPP) in Vietnam to reach financial close since 2003. Mong Duong is the largest private sector power project in the country.