Bernitsas Law, working with Baker McKenzie, has advised Gastrade on the EUR 280 million financing and development of the Alexandroupolis independent natural gas system project.
According to the firm, the Alexandroupolis INGS comprises an offshore floating unit for the reception, storage, and re-gasification of liquified natural gas, with a total capacity of up to 170,000 cubic meters, and a subsea and onshore gas transmission pipeline through which gas will be shipped into the Greek national natural gas system and onwards to final consumers.
Gastrade is a Greek utility company that develops, exploits, operates, and manages natural gas systems.
The project's inauguration on May 3, 2022, was attended by the Prime Ministers of both Greece and Bulgaria. "It will secure new natural gas quantities for the supply of the Greek and Southeast European markets, enhancing the security of supply in Greece and the Balkan markets, improving the Greek national natural gas system and the regional and trans-European gas networks, and contributing to the achievement of Greece's environmental targets," Bernitsas Law informed.
The Bernitsas team was led by Managing Partner Panayotis Bernitsas and included Partners Yannis Seiradakis and Athanasia Tsene and Counsel Dionysis Flambouras.
Bernitsas Law did not respond to our inquiry on the matter.