Gabriel Onagoruwa

Associate, London

Biography

Overview

Dr. Gabriel Onagoruwa is an associate in the Energy, Infrastructure, Project and Asset Finance Group in London. He joined the Firm in 2009 and has spent six months in the Abu Dhabi office.

His practice focuses on advising commercial banks, multilateral lending agencies, export credit agencies, sponsors and developers in project, banking and international finance transactions.

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$1,200,000,000 NNPC/Chevron Multi-Year Drilling Financing
Gabriel was a member of the team that acted for lenders in the $1.2 billion multi-year drilling financing package for 36 Offshore/Onshore Oil wells in Nigeria. The financing was provided by a diverse group of international and Nigerian lenders.

US$12,500,000,000 Project Financing of Sadara Petrochemical Complex in Saudi Arabia
Acting for Saudi Aramco on the US$12.5 billion project financing of the world-scale integrated Sadara chemical complex in Jubail Industrial City, Saudi Arabia. The transaction involved financing from seven export credit agencies, including COFACE, Euler Hermes, FIEM, KEXIM, K-sure, UK Export Finance and US Ex-Im Bank, as well as a diverse range of commercial banks and Islamic financial institutions (participating in both wakala and procurement funding structures). This transaction is the largest-ever project financing in the chemicals sector and 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$1,200,000,000 Indorama's Nitrogenous Fertilizer Complex Financing in Nigeria
Acting for 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
Acting for 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
Acting for 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.

US$100,000,000 Escondida Copper Mine Expansion Financing
Acting for Export Finance and Insurance Corporation of Australia in connection with a financing for the expansion of Escondida Limitada's Copper Mine in Chile, which is the largest copper mine in the world.

Iberdrola's LNG Sale and Transportation Arrangement
Acting for Iberdrola S.A. in connection with its LNG master sale and purchase agreement with Gail Global (Singapore) Pte. Ltd as buyer.

Ford Romania S.A.'s EUR400,000,000 Facility
Acting for the European Investment Bank in connection with the financing of the expansion and refurbishment of car assembly plant in Craiova, Romania on a financial collateral arrangement basis.

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

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