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  1. Facing the future
    1. Selling the Merkur offshore wind farm
    2. The green economy: identifying primary risks and key opportunities
    3. ALPLA expands its global plastic recycling capabilities
    4. Solving global challenges
    5. Advising on a EUR 1.1bn Bulgarian gas pipeline procurement
    6. Ukrainian Gas Transmission System unbundling
  2. Navigating a changing world
    1. Data and risk: challenges in an uncertain world
    2. CMS advises on major East Africa paint transaction
    3. Commerz Real lands the largest deal in its history
    4. Helping Teyliom Hospitality’s expansion in Central and West Africa
    5. Shaping the new normal
    6. Working through the COVID-19 lockdown
  3. Harnessing technology
    1. Technology: a unifying force
    2. Online gambling grows as Gamesys is sold to JPJ Group
    3. CMS advises on first ever European real estate transaction using blockchain
    4. CymbiQ Group on expansion course
    5. CMS helps Korean investors acquire prime real estate assets
    6. Lupl delivers transformative open industry platform for legal matters
    7. MultiChoice separates from Naspers and lists on JSE
    8. CMS advises on ‘Train Maya’ rail project
    9. Smart living: creating a framework for disruption and innovation
    10. CMS helps the BBC launch the streaming service BritBox in the UK
  4. Managing risk
    1. The true cost of ESG
    2. CMS advises Blackstone on its investment in Carrix
    3. CMS advises Zentiva on its acquisition of Alvogen
    4. ST Pharm establishes new medical testing and analysis business line
    5. Colgate-Palmolive acquires premium anti-ageing skin care brand
  5. Inside CMS
    1. CMS Academy adds participants through digital learning
  6. CSR and Diversity & Inclusion
    1. Médecins Sans Frontières (MSF): CMS Charity Partner
    2. Diversity and Inclusion at CMS UK
  7. Partner interviews
    1. Interview with Gabriela Staber
    2. Interview with Sophie Marquet
    3. Interview with Courtney Rothery
    4. Interview with María González Gordon
    5. Interview with Mariel Dimsey
    6. Interview with Nedžida Salihović-Whalen
    7. Interview with Annemieke Hazelhoff
    8. Interview with Michelle Barclay
    9. Interview with Deepa Vallabh
    10. Interview with Gerlind Wisskirchen

Advising on a EUR 1.1bn Bulgarian gas pipeline procurement

This is the first strategic pipeline to be successfully implemented throughout the Bulgarian territory following the failed Nabucco and South Stream projects. It is a key project for the extension of the Bulgarian gas transmission network and for the inter-connectivity of the region.
Kostadin Sirleshtov

In a crucial extension of the TurkStream natural gas pipeline, Bulgartransgaz, the Bulgarian transmission systems operator, launched a call for tender for a EUR 1.1bn procurement deal, which completed in September 2019. The successful bidding consortium included CMS client Arkad / Completions Development SARL. TurkStream begins at the Russkaya compressor station near Apana in Russia and crosses the Black Sea into Turkey. It will now progress through Bulgaria into Serbia, Hungary and Austria.

Believed to be the largest Bulgarian public procurement project to date, the extended 474km Balkan Stream pipeline runs from Bulgaria’s southern border with Turkey to its western frontier with Serbia. It is expected to be completed by the end of 2020.

This is the first strategic pipeline to be successfully implemented throughout the Bulgarian territory following the failed Nabucco and South Stream projects. It is a key project for the extension of the Bulgarian gas transmission network and for the interconnectivity of the region,” commented Kostadin Sirleshtov, Managing Partner at CMS Sofia and Head of Energy & Climate Change for CEE (Central and Eastern Europe).

A CMS team with lawyers from Bulgaria, Russia and Italy worked on the project for some ten months prior to the successful signing, which included assistance on the public procurement process initiated by Bulgartransgaz.

This involved negotiations over the public procurement and consortium agreements, appeal procedures before the Bulgarian Commission for Protection of Competition and the Supreme Administrative Court, as well as participation in the successful out-of-court settlement with the other bidder.

A wide range of CMS experts from the Energy, Projects and Construction, Litigation, Arbitration, Insurance, Employment, Real Estate, Finance and Corporate / Tax groups provided support in this matter. Currently, CMS is engaged with the provision of legal services during the implementation stage of the project, which includes a secondment of a senior lawyer with the client.

In my opinion, CMS played a key role in making sure that all the legal obstacles to the tender, the related appeals and the implementation of the project were successfully overcome,” said Kostadin Sirleshtov.

Our gas pipeline and public procurement experience, global reach and dedicated team made the difference. We received high appreciation from the client, which makes us proud and determined to assist in the successful completion of the construction stage."

Key contacts

Picture of Kostadin Sirleshtov
Kostadin Sirleshtov
Managing Partner
CEE Head of Energy & Climate Change