White & Case
  Sajjad Khoshroo
Associate
London

T: + 44 20 7532 2317
F: + 44 20 7532 1001
E:
Practice Experience
Sajjad Khoshroo is an associate in the Energy, Infrastructure Project and Asset Finance Group in London. He specialises in Islamic finance and international project finance transactions, primarily focused on the power, oil and gas and petrochemical sectors. Sajjad spent a year in White & Case's New York office before transferring to London. Sajjad holds the Islamic Finance Qualification jointly awarded by the Chartered Institute for Securities & Investment (CISI) and L'Ecole Supérieure des Affaires (ESA) and is a Certified Islamic Finance Executive of the Ethica Institute of Islamic Finance.

Representative experience include:
  • Advising Barzan Gas Company and sponsors, Qatar Petroleum and Exxon Mobil, on the $10.3 billion Barzan Gas Project, the largest single project financing ever undertaken in Qatar, with the capacity to produced 1.4 billion cubic feet of gas per day. This deal was recognized as the "Global Deal of the Year 2011" by Project Finance Magazine and "Middle East Oil & Gas Deal of the Year 2011" by Project Finance International and also included an Istisna-Ijara Islamic structure.
  • Advising the Nord Stream AG and the sponsors on the construction and financing of Phase I and Phase II (and the 2011 repricing of Phase I) of the €7 billion 1,220 km gas pipeline project which runs from Russia to Germany through the Baltic Sea and the exclusive economic zones of Russia, Finland, Sweden, Denmark and Germany. Phase I of this project was recognized as the "European Gas Deal of the Year 2009" by Project Finance International, and Phase II was recognized as "European Mid-Stream Gas Project of the Year 2010" by Project Finance International, "Oil & Gas Deal of the Year 2010" by Infrastructure Journal, and the team was awarded the prestigious "Energy and Infrastructure Team of the Year 2011" by The Lawyer.
  • Advising a syndicate of banks (including commercial banks and Islamic banks) and US-Exim on the Riyadh PP11 US$2.3 billion independent power project in Saudi Arabia, which included the provision of financing on both an Islamic and a conventional basis. The Islamic structure was comprised of Istisna-Ijara and Wakala-Ijara tranches. This deal was recognized as the "Middle Eastern Power Deal of the Year 2010" by Project Finance International.
  • Advising ECAs and commercial lenders on the US$2.5 billion 1,200 MW heavy fuel oil fired IPP sponsored by ACWA Power and KEPCO in Rabigh, Saudi Arabia. This project has set a precedent in the Middle East, moving from EOI to financial close in 18 months and was recognized as the "Middle Eastern Power Deal of the Year 2009" by Project Finance International. The majority of the debt was provided by a syndicate of Saudi banks through two (Istisna-Ijara and Wakala-Ijara) Islamic finance tranches.
  • Advising the Abu Dhabi Water & Electricity Authority (ADWEA) and the government of Abu Dhabi in connection with Abu Dhabi's eighth IWPP project involving development at the Shuweihat complex of the US$2.6 billion Shuweihat S2 power generation and seawater desalination plant with associated facilities having net capacities of approximately 1,500-1,600MW and 100MIGD, adjacent to ADWEA's third IWPP, the Shuweihat S1 plant. This project was recognized as "Gulf Power Deal of the Year 2009" by Project Finance International.
  • Advising the Egyptian conglomerate, Orascom Construction Industries, in reorganising its holdings and subsidiaries and refinancing its outstanding facilities worth US$2 billion.
  • Advising Egypt Basic Industries Corporation on the project financing of the US$539 million ammonia plant in Egypt.
  • Advising Saudi Aramco in negotiating the structuring and financing of a joint venture with Sumitomo Chemical Co., Ltd to implement a refinery, ethane cracker and petrochemical complex in Rabigh, Saudi Arabia.
  • Advising the export credit agencies, US-Exim, COFACE and Euler Hermes, in connection with their financing of the Phase I Emirates Aluminium project in the UAE.
  • Advising the Emerging Africa Infrastructure Fund in financing the development of a 13 MW hydroelectric generation facility in Bugoye, Uganda.
  • Working with the New York, London and Paris offices to prepare a benchmarking matrix for Sonatrach, outlining the key provisions of a substantial number of Crude Oil Supply Agreements, Term Supply Agreements for Refined Products, Gas Sale Agreements, LNG Sales Agreements, Offtake Agreements, and LPG Sale Agreements.
  • Advising Dutch utility, Essent Energie Productie B.V., and its parent company, Essent N.V., in connection with compliance with legislation on the deregulation of the Dutch energy sector, and the replacement of collateral enhancement products related to several transactions from Essent's cross-border lease portfolio. Analyzing the cross-border lease (CBL) portfolio in connection with rating downgrades, mergers, privatizations and other events triggering an obligation to provide additional collateral. Involvement with various terminations of portions of the CBL portfolio.
  • Advising Austrian utility, VERBUND Austrian-Hydro Power AG, and its parent company, Österreichische Elektrizitatswirtschafts AG, in connection with the replacement of collateral enhancement products related to CBLs.
  • Advising Louis Dreyfus Agricultural Industries LLC in negotiating the structuring and financing of a Biodiesel Refining Facility in Claypool, Indiana.
  • Pro bono work includes advising an NGO that monitors international criminal tribunals and acting as a judge for the Philip C. Jessup International Law Moot Court Competition.

Bars and Courts
England and Wales, 2009
New York State Bar, 2008
Iranian Central Bar Association, 2006

Education
LLM, International Finance Concentration, Harvard Law School, 2007
LLB (Hons), Shahid Beheshti University, 2006
LLB, Australian National University, 2002

Professional Associations and Memberships
Institute of Islamic Banking and Insurance
Association of International Petroleum Negotiators
International Bar Association
State of New York Notary Public

Languages
English
Farsi
Arabic