Stuttgart – Spirit Energy, the gas production company in which Stadtwerke München GmbH (SWM) and Bayerngas GmbH jointly hold 31 percent and the UK-based Centrica holds 69 percent, has signed an agreement to sell its Norwegian gas and oil fields and a UK field to the Norwegian companies Sval and Equinor. Spirit Energy's remaining natural gas-focused UK and Dutch businesses will be continued with a revised strategy and aligned with the requirements of the energy transition. The focus will be on the safe and economic production of existing gas reserves. In addition, opportunities to use existing infrastructure for sustainable and climate-friendly activities are to be advanced, such as hydrogen production with subsequent CO2-storage (blue hydrogen) or hydrogen storage in depleted gas reservoirs (green hydrogen). The agreements are subject to approval by the relevant committees.
An international CMS team led by Dr Jochen Lamb, Client Relationship Partner of SWM / Lead Partner CMS Germany, and Charles Currier, Lead Partner CMS UK, advised SWM and Bayerngas GmbH, on the various transactions as well as the new consortium agreement with Centrica. CMS was supported by Wikborg Rein in Norway and by Bech-Bruun in Denmark.
CMS Germany
Dr Jochen Lamb, Lead Partner and Client Relationship Partner SWM
Birgit Schlemmer, Senior Associate
Dr Eckart Gottschalk, Partner
Dr Justus Jürgensen, Associate, all Corporate/M&A
CMS UK
Charles Currier, Partner
Frank Fowlie, Partner
Brynn Horner, Senior Associate
Michael Carroll, Senior Associate
Buky Alakija, Senior Associate
Fraser Blair, Associate, all Corporate/M&A
Paula Kidd, Partner, Oil & Gas
Aaron Fairhurst, Partner
Philip Reid, Senior Associate, both Tax
David Bridge, Partner
Kelly Heath, Senior Associate
Karishma Gadhia, Associate, all Litigation & Arbitration
Inhouse SWM
Dr Timo Fahrion, Maître en Droit (Aix-Marseille), Legal Counsel
Philipp Mangini-Guidano, Legal Counsel
Inhouse Bayerngas
Ricarda Bergfeld, Head of Legal Affairs
Press Contact
presse@cms-hs.com
