Squire Patton Boggs has advised ČEZ Group, the largest utility in Central and Eastern Europe, on its long-term access to an LNG regasification terminal to be constructed and operated by the Hanseatic Energy Hub (HEH) in Stade, Germany.
ČEZ signed a package of terminal access documents with HEH in November 2023. It is ČEZ’s first long-term LNG transaction aimed to secure the supply of diversified natural gas to the Czech Republic. ČEZ signed a 15-year shipper agreement, with an option to extend the term to 25 years, locking in capacity to provide more than a quarter of the country’s current annual gas consumption.
The complexity of the documentation - with commercial, operational and regulatory issues involved in securing long term access to the terminal - and the short time available to analyse risks allocation required around the clock delivery from the Squire Patton Boggs team.
The Squire Patton Boggs team was led by partner and LNG and natural gas expert Tatiana Gotvig (Sydney), and included partners Dr. Eveli Lume (Berlin) and Vladimir Polach (Prague).
Ms. Gotvig said: “It has been our pleasure and privilege to advise ČEZ on this transaction. It has been no small feat for ČEZ to put in place arrangements to procure LNG, a seaborne commodity for a landlocked country. We commend the ČEZ team’s professionalism and dedication in finalising a complex set of documents within the time constraints involved, and congratulate them on this crucial step towards ensuring the country’s energy security.”