Norton Rose Fulbright has advised the National Bank of Greece on EUR 450 million financing of floating storage and regasification terminal off the coast of Alexandroupolis. Bernitsas Law advised Gastrade.
According to Norton Rose Fulbright, "the project, which is of great geopolitical importance, will see the creation of a new energy gateway in the region of Greece and southeastern and central Europe through existing and new export routes to Bulgaria and North Macedonia."
"The financing, which was completed on June 17, includes a EUR 283 million bond loan and a EUR 166 million state grant," the firm added. "It covers the construction of the floating storage and regasification terminal, which will regasify natural gas and transfer it to Greece and other areas of southeastern Europe."
"This strategically important project will increase Greece's exports to the markets of southeastern and central Europe, and also enhance the country’s role as an energy hub in the region," Norton Rose Fulbright Partner Yianni Cheilas commented. "The terminal is also expected to strengthen the security of gas supply while enabling the further diversification of supply sources and the energy transition of Greece, and the wider region."
The Norton Rose Fulbright team was led by London and Athens-based partner Yianni Cheilas and included Athens-based Partner Vassilis Koroxenidis, Counsels Dimitrios Rampos and Niki Alexandrou, Senior Associates George Palogos and Eliana Miliou, Consultant Vicky Zampaza, Associate Manos Chamilothoris, and Trainee Konstantina Matzari, as well as a team from the firm’s London office.
The Bernitsas Law team included Managing Partner Panayotis Bernitsas, Partners Athanasia Tsene, Dimitris Roussis, and Yannis Seiradakis, Counsel Dionysis Flambouras, and Senior Associate Eleni Stazilova.