GA_P advises on the incorporation of Enagás to the Hanseatic Energy Hub project

Gómez-Acebo & Pombo has advised Enagás on its incorporation to the Hanseatic Energy Hub (HEH) project through the purchase of a 10% stake in the capital in substitution of Fluxys. Enagás’ investment is aimed at making it the operator of the future LNG plant in Stade (Germany), which will reach a regasification capacity of 13.3 bcm per year. The acquisition is subject to the suspensive conditions typical of this kind of operations.

The GA_P team has been co-led by Mónica Weimann, partner of the corporate department and head of the German Desk, and Borja Carvajal, partner of the public and regulatory department. It has counted with the collaboration of Miguel Troncoso, partner of competition, José Manuel Sánchez, associate of commercial, Cristina Sánchez Weickgenannt, associate of commercial and Álvaro Obregón, associate of public y regulatory.

The project, which is a key element in contributing to the European objectives of security of supply and decarbonization, includes in the first phase a Floating Storage Regasification Unit (FSRU). Subsequently, it is planned to incorporate a terminal where LNG and renewable energy sources such as bio-LNG and synthetic natural gas can be imported, and is designed for the use of ammonia in the future. HEH’s planned investment volume for the terminal is around EUR 1 billion.

In the development of this transaction, GA_P has collaborated with the German law firm GvW Graf von Westphalen (GvW), which has led the work from a local law perspective.

The GvW team was led by Hamburg office partner Dr. Ritesh Rajani (Corporate/M&A), and was assisted by Christian Mayer-Giessen and Maximilian Andersen (Corporate/M&A), Dr. Sebastian Rohrer, Dr. Maximilian Elspas, Guido Brucker, Antje Baumbach, Dr. Reinald Günther, Dr. Reinald Günther and Tobias Günther (Corporate/M&A). Reinald Günther and Tobias Lang (Energy Projects and Regulatory), Saskia Soravia and Cosima Baumeister (Permitting and Environment), Lutz Leonard Lamprecht (Real Estate), Marius Bodenstedt (Labor), Andrea Torka and Patrick Wolff (Finance), Dr. Carsten Bittner (Competition) and Marian Niestedt and Max Jürgens (Foreign Trade).”