Natural Gas Project in the North Sea: GvW advises Tenaz Energy on Acquisition of Interest in the GEMS Project
GvW Graf von Westphalen has advised Tenaz Energy Corp. on the German aspects of the acquisition of a private company with interests in the Gateway to the Ems ("GEMS") project on the boundary of the Dutch and German sectors of the North Sea. The purchase price amounted to USD 244 million.
The GEMS properties consist of five highly prospective licenses, three in the Netherlands and two in Germany, covering 1,811 km2 at an average distance of 30 km offshore in water depth of approximately 25 m. Assets include the currently producing N05-A platform, installed in August 2024, with a nameplate capacity of 225 MMcf/d before future expansion. This state-of-the-art platform is tied into the NGT offshore gas gathering system, in which Tenaz has pre-existing equity ownership, via a 13 km 20" pipeline. In addition to the prolific N05-A field, the assets include two discovered and tested fields assigned Proved Undeveloped Reserves, four fields with discovered gas that have been assigned Contingent Resources due to uncertainty around timeline to development, and 14 exploration prospects which have been assigned Prospective Resources.
Tenaz Energy Corp. is an energy company focused on the acquisition and sustainable development of international oil and gas assets. It is the largest producer in the Dutch sector of the North Sea and develops crude oil and natural gas at Leduc-Woodbend in Alberta (Canada).
Under the lead of Hamburg based partners Dr. Ritesh Rajani (Corporate/M&A) and Corinna Lindau (Environmental and Planning Law), Tenaz Energy Corp. was advised by a team consisting of partners Dr. Andreas Wolowski and Saskia Soravia (both Environmental and Planning Law; Hamburg), Dr. Maximilian Emanuel Elspas (Energy Law; Munich) and associates Maximilian Andersen (Corporate/M&A; Hamburg), Dr. Stefanie Raissa Ramsauer and Patrick Klafke (both Environmental and Planning Law; Hamburg), Juliane Hofmann (Environmental and Planning Law; Berlin) and Tobias Lang (Energy Law; Munich).
Tenaz was advised in Canada by the Canadian law firm Torys who established the link to GvW on this matter through Munich based partner and head of our Energy practice Dr. Maximilian Emanuel Elspas.
News
Federal Administrative Court: Fehmarn Belt Fixed Link may be built
The Federal Administrative Court has dismissed all six pending appeals against the planning decision on the Fehmarn Belt Fixed Link. Construction of the tunnel may therefore now also begin in Germany. GvW advised the State of Schleswig-Holstein and was represented by a Hamburg team consisting of Dr Ronald Steiling (lead), Corinna Lindau, Dr Dietrich Drömann, Prof. Dr Christian Winterhoff, Dr Andreas Wolowski, Saskia Soravia, Dr Stefanie Ramsauer, Dr Annika Bleier, Felix Kazimierski and Niclas Langhans.(BVerwG 9 A 6.19, 9 A 7.19, 9 A 9.19, 9 A 10.19, 9 A 11.19, 9 A 12.19 and 9 A 13.19).
H4 Hotel Mönchengladbach at BORUSSIA-PARK: the place for that Bundesliga feeling
Football is king at H-Hotel Group’s new H4 Hotel in Mönchengladbach. Its location right next to the stadium and the theme rooms depicting the history of the Borussia Dortmund football club make this new hotel unique and a must for any football enthusiast. Our lawyers had the pleasure of advising H-Hotels Group on the creation of its first football-themed hotel and took the chance to visit this amazing place shortly after its opening.
Transport System Bögl: new local public passenger transport system a big success in China
The Max Bögl group of companies has developed a new local public passenger transport system. The system called “Transport System Bögl” (TSB) uses magnetic levitation, or “maglev” technology and provides a clean and cost-efficient means of transport for better mobility in inner city areas. The technology is becoming increasingly popular also in other countries: Max Bögl’s most recent export order was the sale of its TSB to China. The company’s plans include building a 3.5 km test track in Chengdu and extensive marketing activities to promote the technology in China – all through a sales partnership with a Chinese company.
You don't want to miss any more of the latest legal developments? And be invited to our events? Then register here.