Gabriel Onagoruwa

Counsel, London

Biography

Overview

Dr. Gabriel Onagoruwa is a counsel in the Project Development and Finance Group in London, with experience across the oil and gas, power, mining and metals and Infrastructure sectors particularly in Africa and other emerging markets. He advises sponsors, developers, commercial banks, multilateral lending agencies and export credit agencies.

Bars and Courts
England and Wales
Nigeria Bar
Education
PhD
Wolfson College, University of Cambridge
LLM
Wolfson College, University of Cambridge
LLB (Hons)
University of Ibadan
Languages
English
Yoruba

Experience

US$20+ billion Mozambique LNG Financing
Representation of the financiers on the landmark US$20+ billion multi-sourced project financing of Mozambique's first onshore LNG development, Mozambique LNG, a two-train onshore liquefaction plant in Mozambique with a nameplate design capacity of 6.44 Mtpa for each train, which is the largest single foreign direct investment in Africa to date. The deal was awarded the PFI Global Multilateral Deal of the Year 2020.

US$3 billion NLNG Train 7 Hybrid Financing 
Representation of the financiers in connection with the NLNG Train 7 US$ 3 billion multi-sourced expansion financing in Nigeria. The financing, which was the first hydrid LNG expansion financing, will increase the nameplate capacity of the plant to 30Mtpa. It was provided by 26 commercial banks, 2 DFIs and three ECAs. The deal was awarded the PFI African LNG deal of the year 2020.  

US$2 billion NNPC/SPDC JV Multi-Year Drilling Financing
Representation of Nigerian National Petroleum Corporation, The Shell Petroleum Company of Nigeria Limited and Total E&P Nigeria Limited Joint Venture, as sponsors, in connection with two separate rounds of US$2 billion financing for the development of acreages under the alternative financing programme of the NNPC.

US$700 million limited recourse financing of gas processing plant
Representation of the sponsors in connection with the limited recourse multi-source US$ 700 million financing for the development of a gas processing plant in Nigeria.

US$12.5 billion Project Financing of Sadara Petrochemical Complex in Saudi Arabia
Representation of Saudi Aramco on the US$12.5 billion project financing of the world-scale integrated Sadara chemical complex in Jubail Industrial City, Saudi Arabia. This transaction was selected as 2013 Global Finance Deal of the Year: Project Finance (Middle East) by The American Lawyer, as 2013 Project Finance Deal of the Year (Middle East) by International Financial Law Review and as 2013 Middle East Petrochemical Deal of the Year by Project Finance International magazine.

US$1.2 billion Indorama's Nitrogenous Fertilizer Complex Financing in Nigeria
Representation of the lenders on the ground-breaking US$1.2 billion financing of Indorama's nitrogenous fertiliser complex in Rivers State, Nigeria, the largest fertiliser plant in Africa. The financing was provided by a diverse group of international and Nigerian lenders, comprising a number of development finance institutions, international banks and leading Nigerian banks.

Scottish Power Generation Limited Power Asset Sale to UKPR
Representation of Iberdrola, a global energy conglomerate, in the sale by its subsidiary, Scottish Power Generation Limited, of certain UK-based power generating assets to UK Power Reserve Limited, one of the UK’s leading independent developers and operators of power generating assets.

Deutsche Bank Financing of Grid Essence Ltd's 38.2 MW of Photovoltaic Power Plants
Representation of Deutsche Bank as lender in connection with Grid Essence UK Ltd's acquisition and development of seven photovoltaic solar farms leading to a successful connection of an aggregate of 38.2 MW of photovoltaic power plants into the southern United Kingdom region’s grid network.

Speaking Engagements

Leadership in Parliamentary Oversight Function for the Nigerian National Assembly, May 2014: Judge Business School, University of Cambridge

Transformational Leadership and Change Programme for the Lagos State House, March 2014: Judge Business School, University of Cambridge

Publications

"Nigeria LNG Train 7 breaks new ground" PFI 675 – Jun 17 – Jun 30 (Co-author)

Basel III and the Case for Contingent Convertible Capital, J.I.B.L.R., 29(6), 341–348, 2014

Legitimacy Deficit of Soft Law Institutions in Cross-Border Bank Regulation: An African Perspective, J.I.B.L.R., 29(4), 254–260, 2014

Early Intervention Regime under the Bank Resolution Framework in Nigeria: Resolving the Diverging Interests, Journal of Sustainable Development Law and Policy, 1 (1), 114–131, 2013

Awards and Recognition

Rising Star Award, The ESQ 40 Under 40 Nigerian Legal Awards 2019 (the only lawyer from an international law firm to be named in the Rising Star category in 2019).