Wikborg Rein London advise on deal to strengthen Germany's gas security
Acting as counsel to Dynagas, our team in London advised on the charter of two FSRUs which will assist in diversifying and strengthening Germany's security of gas supply .
Our specialist LNG team, led by partner Jonathan Goldfarb, acted for Dynagas Ltd on the provision of the two floating storage and regasification units (FSRUs) which will enable Germany to begin importing liquefied natural gas (LNG) as it currently has no LNG terminals of its own. The FSRUs are expected to commence operations in early 2023.
The deal, which was supported by partner Renaud Barbier-Emery and senior lawyer Sebastian Lea, "is a huge success for our team and really demonstrates the expertise and capabilities of our practice" says team head Jonathan Goldfarb. He adds that "This was our first opportunity to work with the first class team at Dynagas, and demonstrates our position at the forefront of the LNG industry as it moves into an exciting new phase of its development".
Dynagas's Chief Executive Officer, Tony Lauritzen said: "The Wikborg Rein team's assistance was invaluable at all stages of this complex and critical transaction. We were especially grateful for their leading legal and sector expertise and commercially driven advice."
Wikborg Rein's industry leading LNG practice has been at the forefront of the rapidly changing legal landscape for FLNG and FSRU, with such expertise in these key LNG import / export projects complementing and strengthening their existing shipping, offshore and LNG sale and purchase offering.