07 June 2023 Press releases

LNG Stade: Enagás S.A. invests in Hanseatic Energy Hub (HEH)

GvW Graf von Westphalen and Gómez-Acebo & Pombo (GA_P) have advised Enagás, S.A. on its acquisition of a 10% stake in Hanseatic Energy Hub GmbH (HEH). Enagás S.A.’s investment is made with a view to become 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 fulfilment of conditions precedent inherent to this type of transaction.

Enagás, S.A., a listed Spanish company, is Spain’s TSO (Transmission System Operator) and Technical Manager of the Spanish gas system, with 50 years’ experience in the development, operation and maintenance of energy infrastructures.

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 build 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 amounts to approx. EUR 1 billion.

Under the lead of Hamburg based partner Dr Ritesh Rajani (Corporate/M&A), Enagás, S.A. was advised by a GvW team consisting of Christian Mayer-Giessen and Maximilian Andersen (both Corporate/M&A), Dr Sebastian Rohrer, Dr Maximilian Elspas, Guido Brucker, Antje Baumbach, Dr Reinald Günther and Tobias Lang (all Energy Projects/Energy Regulation), Saskia Soravia and Cosima Baumeister (both Permits and Environment), Lutz Leonard Lamprecht (Real Estate), Marius Bodenstedt (Employment), Andrea Torka and Patrick Wolff (both Finance), Dr Carsten Bittner (Antitrust) as well as Marian Niestedt and Max Jürgens (Foreign Trade).

The GA_P team has been co-led by Mónica Weimann (partner, Corporate and head of the German Desk) and Borja Carvajal (partner, Public and Regulatory), with the collaboration of Miguel Troncoso (partner, Competition), José Manuel Sánchez and Cristina Sánchez Weickgenannt (Corporate) and Álvaro Obregón (Public and Regulatory)

Stay informed

You don't want to miss any more of the latest legal developments? And be invited to our events? Then register here.