Vinson & Elkins LLP Advises Iraq Oil Ministry in US$17 Billion Basrah Gas Company Joint Venture

Under the transaction agreements, the parties will create a new company, Basrah Gas Company (BGC), in which South Gas CompanySouth Gas Company will hold a 51 percent interest, Shell 44 percent, and Mitsubishi 5 percent. BGC will process associated gas from the three fields in order to satisfy domestic consumption requirements and will also have the right to pursue a Liquefied Natural Gas (LNG) or other gas export project for any remaining gas.http://www.zawya.com/story.cfm/sidZAWYA20111213074526/Vinson__Elkins_advises_Iraq_oil_ministry_in_17bn_Basrah