Key FSRU assets transferred by Dynagas to Energos Infrastructure
In a significant move within the LNG maritime sector, Wikborg Rein expertly guides Greek shipowner client Dynagas through its sale to Energos Infrastructure of two state-of-the-art Floating Storage and Regasification Units (FSRUs), Transgas Force and Transgas Power.
Post-acquisition, they will operate as Energos Force and Energos Power, substantially expanding Energos's LNG infrastructure portfolio.
The firm's role in facilitating completion of this complex deal showcases Wikborg Rein's expertise in maritime and energy law and its position as a trusted legal advisor in high-stakes international transactions. The execution of this transaction, led on the Dynagas side by Renaud Barbier-Emery, partner in the London Shipping & Offshore Team, and supported by associate Ben Orchard, exemplifies the firm's dedication to client success in the energy sector.
Jonathan Goldfarb, head of the London LNG Team, commented: "This transaction is not just a remarkable achievement for Dynagas but also a testament to the evolving landscape of global energy infrastructure. Our team's comprehensive legal expertise and commercial acumen helped ensure a successful process for the Dynagas team, reflecting our commitment to our clients and the industry's advancement."
Dynagas’s Chief Executive Officer, Tony Lauritzen said: “The Wikborg Rein team’s first class support was invaluable throughout the completion of this transaction, and we were particularly appreciative of their legal and sector expertise, and commercially focused guidance.”
Last year the Transgas Force and Transgas Power were delivered into long-term charter contracts with the German Federal Ministry of Economic Affairs and Climate Change, in a major step towards Germany’s energy independence. The Energos Force is now set to operate in the port of Stade, directed by Deutsche Energy Terminals, while the Energos Power is destined for the port of Mukran, subchartered to Deutsche Regas.
The acquisition was financed through a consortium led by BNP Paribas, Crédit Agricole CIB, Mizuho Bank and Sumitomo Mitsui Trust Bank, with Apollo Capital Solutions providing debt advisory and placement services.
Wikborg Rein remains dedicated to guiding clients through the complexities of the global energy landscape, reinforcing our commitment to supporting sustainable and innovative energy solutions.