Hamburg –Hanseatic Energy Hub GmbH (HEH) has chosen the Spanish transmission system operator Enagás as its industrial partner for the operation of the planned terminal for liquefied gases at Stade Industrial Park. Enagás has a 10 percent stake (subject to compliance with the conditions precedent inherent to this type of transaction) in the project consortium, consisting of the founding shareholder, the Hamburg-based Buss Group, the Partners Group and the industrial partner Dow. The Spanish transmission system operator Enagás is one of the world's largest operators of regasification terminals and the second largest system operator in Europe. The previous minority shareholder Fluxys will sell its shares as part of a strategic refocusing. All parties involved have agreed not to disclose the exact terms of the agreements.
Hanseatic Energy Hub GmbH is the project developer for the future terminal for liquefied gases in Stade. In the initial expansion stage, a zero-emission LNG terminal is set to go into operation from 2027, with infrastructure also approved for bio-LNG and SNG. The planned regasification capacity is 13.3 bcm/a, with a send-out capacity of 21.7 GW. Further, from the end of 2023 until the land-based terminal goes into operation, HEH will also be the site of one of the five Floating Storage and Regasification Units (FSRU) chartered by the German government. The planned investment volume for the terminal is around one billion euros.
A team led by CMS partner Dr Holger Kraft and Dr Hilke Herchen provided comprehensive legal advice to Hanseatic Energy Hub on Enagás' investment. The CMS team is regularly involved in an advisory capacity in connection with the planned terminal for lique<fied gases in Stade and other LNG projects in Germany. For example, the team advised Hanseatic Energy Hub GmbH also on the investments of Dow and Fluxys in connection with the planned terminal in Stade.
CMS Germany
Dr Holger Kraft, Lead Partner
Dr Hilke Herchen, Lead Partner
Marvin Hoffmann, Senior Associate
Birgit Schlemmer, Senior Associate, all Corporate/M&A
Martin Krause, Partner, Construction
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