Wikborg Rein plays key role in development of operationally complex German LNG terminal
The London team advised Deutsche ReGas, the operator of Germany's Deutsche Ostsee LNG Terminal in Lubmin, on all marine related aspects of the Terminal, including the charters of an FSRU, FSU and three shuttle tankers. The Project was officially launched earlier this year, having obtained all of the required permits and achieving first gas into the grid.
The Deutsche Ostsee LNG Terminal has been developed on a fast-track timeline to ensure that it would be up and running to provide Germany with gas supply for the winter. It is the second FSRU-based import terminal operational in Germany, as it seeks to find diversity of gas supply, and is the country's first, and so far only, privately financed LNG terminal. It has the capability to import up to 5.2 billion m³ into the German grid network in Phase 1 of the project.
Wikborg Rein's team was led by Partner Jonathan Goldfarb and supported by Specialist Counsel Linda Roxburgh, Senior Lawyer Sebastian Lea and Associates Jack Baker and Sofie Gleditsch. Jonathan Goldfarb says:
"It was an honour to be appointed by Deutsche Regas to support them on such a strategically important project for energy security within Germany and further afield, and we were privileged to have been able to play a leading role in the development of all aspects of the project."
The team provided general shipping and offshore legal support throughout the process to Deutsche ReGas, including the charter of the FSRU Neptune from TotalEnergies, the LNG FSU Hispania from Seapeak, and the small-scale LNG carriers Coral Furcata, Coral Favia and Coral Fraseri, as well as a series of tug vessels from Boluda Towage.
"Wikborg Rein were instrumental in helping us to achieve all of our targets, and we greatly valued the speed and accuracy of their advice." says Ingo Wagner, managing director of Deutsche Regas, about the team's efforts on this frequently challenging and immensely time sensitive deal.
Wikborg Rein were co-counsel on the project with Milbank LLP who advised Deutsche ReGas on key commercial contracts for the terminal, and Hengeler Mueller who advised on German regulatory and corporate matters. WaveCrest Energy supported Deutsche Regas on technical and operational matters.
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.