Akin Gump Advises Neste Oil in Relation to the Development of a New Hydrogen Production Unit at Porvoo Refinery, Finland
(London) – Akin Gump is advising Finnish energy company Neste Oil in connection with a project to develop a new hydrogen production unit at Neste Oil’s Porvoo refinery in Finland. The project includes execution of a long-term hydrogen supply agreement between Neste Oil and Oy AGA Ab (AGA), part of the Linde Group.
AGA will invest to build a new hydrogen production unit at the refinery and will be responsible for construction. Neste Oil will build the links needed to connect the unit to the refinery. The project represents an investment of around €100 million.
Neste Oil already has two hydrogen production units at its Porvoo refinery, and the plan is to replace output from the older of these with hydrogen from this new, more efficient unit to be built and operated by AGA. Construction work on the project will start immediately, and the plan is to bring the new unit on stream in summer 2016.
Corporate and energy partner John LaMaster led Akin Gump’s London-based team advising Neste Oil, which included associate Caroline-Lucy Moran. Mr. LaMaster has advised Neste Oil for over 20 years.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.