As sole Greek legal advisor to Gastrade, Bernitsas Law has played a key role in the structuring and documentation of the complex and innovative c.€280m financing and project development of the Alexandroupolis INGS.
The INGS is of major importance to Southeast Europe and will contribute significantly to the energy security and independence of Greece and other countries in the region. The Project kickoff was marked by a ceremony on 3 May attended by the Prime Ministers of both Greece and Bulgaria.
Managing Partner, Panayotis Bernitsas said: “We are delighted to have been at the forefront of this landmark project from its inception by the Copelouzos Group to its kick-off today and look forward to continuing to work with Baker McKenzie in advising Gastrade on the next leg of the transaction.”
The Alexandroupolis INGS comprises an offshore 153,500 sqm capacity floating unit for the reception, storage and re-gasification (FSRU) of LNG and a system of a subsea and an onshore gas transmission pipeline through which gas is shipped into the Greek National Natural Gas System (NNGS) and onwards to final consumers. 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 NNGS and the regional and trans-European gas networks and contributing to the achievement of Greece's environmental targets.
The Bernitsas Law multi membered team is led by Managing Partner Panayotis Bernitsas. Partner Yannis Seiradakis advised on Project Development. Partner Athanasia Tsene and Counsel Dionysis Flambouras advised on the financing of the project.