25/03/2024
CMS advises on project financing for land-based terminal in Stade
Hamburg – Hanseatic Energy Hub GmbH (HEH) has achieved financial close for the project financing to develop and realise the planned terminal for liquefied gases in Stade. Total investment is some EUR 1.6 billion. Achieving financial close represents a major milestone for Hanseatic Energy Hub GmbH’s land-based terminal.A multi-disciplinary and multi-location CMS team headed by Dr Hilke Herchen and Dr Holger Kraft advised Hanseatic Energy Hub GmbH on developing the project and on preparations to secure the project financing. This included corporate law advice with a particular focus on developing and optimising corporate governance, and on the associated links to the project financing. This advice marks a continuation of the existing close cooperation between HEH and CMS. The CMS team has been providing advice on an ongoing basis since the start of the project, with support for project development around corporate, operation & maintenance and real estate matters in particular. This has included advising on various shareholders joining the project, with a recent example being Enagás S.A. as industrial partner in June 2023. The CMS team conducted a comprehensive due diligence check to put the project financing on a solid footing. The first expansion phase of the project will see an emission-free terminal begin operating in 2027. Its infrastructure is also approved for bio-LNG and synthetic natural gas (SNG). At a later stage, the project will be switched over to hydrogen-based energy carriers such as ammonia. The planned regasification capacity is 13.3 billion cubic metres per year and the send-out capacity is 21.7 gigawatt. From March 2024 until the onshore terminal becomes operational, Hanseatic Energy Hub GmbH will also accommodate one of the five FSRUs (Floating Storage and Regasification Units) chartered by the German federal government. CMS Germany Dr Hilke Herchen, Lead Partner
Dr Holger Kraft, Lead Partner
Matthias Sethmann, Principal Counsel
Dr Luise Pelzer, Counsel
Dr Stefan Kühl, Senior Associate
Dr Carl-Friedrich Thoma, Senior Associate
Dr Josephine Doll, Associate
Dominic Zimmer, Associate
Dr Christian Seeburger, Associate, all Corporate/M&A
Dr Fritz von Hammerstein, Partner
Katja Meisel, Senior Associate
Jan Gröschel, Senior Associate, all Permitting
Martin Krause, Partner
Dr Sebastian Orthmann, Partner
Dr Hans Fabian Kiderlen, Principal Counsel
Christopher Schmeckel, Senior Associate
Wiebke Westermann, Associate, all Real Estate
Dr Friedrich von Burchard, Partner, Energy & Climate Change
Dorothée Janzen, Partner
Christoph Zarth, Partner
Robin Azinovic, Associate, all Commercial
Dr Kerstin Block, Partner, Banking & Finance
Dr Martin Mohr, Partner
Dr Olaf Thießen, Principal Counsel, both Tax
Dr Sebastian Cording, Partner
Dr Anna Lena Füllsack, Senior Associate, both TMC
Dr Michael Bauer, Partner
Luisa Thomasberger, Associate, both Antitrust, Competition & Trade
Dr Philipp Nonnenmühlen, Counsel, Labor, Employment & Pensions
Dr Martin Gerecke, Partner, IP
Birgit Wagner, Legal Manager, Smart OperationsPress Contact
presse@cms-hs. com
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