Ince & Co LLP has provided cross-border legal advice to GasLog Ltd. (“GasLog”), an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, on a sale and purchase agreement (“SPA”) to acquire a twenty percent shareholding in Gastrade S.A. Gastrade is licensed to develop an independent natural gas system offshore Alexandroupolis in Northern Greece.
The system utilises a floating storage and regasification unit (“FSRU”), along with other fixed infrastructure. Closing of the SPA acquisition is subject to the satisfaction of certain closing conditions set out in the transaction documents.
The project will provide a new route and a vital source of gas diversification to a number of European countries that are currently highly dependent on pipeline gas in South East and Central Europe. As well as enhancing security of supply in the region, it will promote competition and pricing flexibility. The project has the backing of the Greek and the Bulgarian Governments as well as the support of the EU.
Jonathan Goldfarb (Picture), who heads Ince & Co’s LNG team, and Mona Patel, a partner in Ince & Co’s corporate practice, led the Ince & Co team advising GasLog, which also comprised Ince & Co’s Global Head of Corporate, Stephen Jarvis and corporate associate Sam Batchelor. A.S. Papadimitriou in Athens provided the Greek law advice to GasLog.
Law Firms: Ince & Co;
Clients: GasLog Ltd.;