GA_P advises Enagás on its incorporation into the Hanseatic Energy Hub project

Gómez-Acebo & Pombo has led the legal advice to ENAGÁS in 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 aims to make it the operator of the future LNG plant in Stade (Germany), which will have an annual regasification capacity of 13.3 bcm. The acquisition is subject to the suspensive conditions attached to this type of transaction.

The project, which is a key element in contributing to the European objectives of security of supply and decarbonisation, initially includes 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 1 billion euros.

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 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. Miguel Troncoso, partner of Competition, José Manuel Sánchez, associate of Mercantil, Cristina Sánchez Weickgenannt, associate of Mercantil and Álvaro Obregón, associate of Public and Regulatory.

The GvW team was led by Hamburg office partner Dr. Ritesh Rajani (Corporate/M&A), with the assistance of 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 (Labour), Andrea Torka and Patrick Wolff (Finance), Dr. Carsten Bittner (Competition) and Marian Niestedt and Max Jürgens (Foreign Trade)”.