International law firm Ince & Co has provided legal advice to GasLog, an international owner, operator and manager of LNG carriers, on a sale and purchase agreement to acquire a 20 percent shareholding in Gastrade.
Gastrade is licensed to develop an independent natural gas system offshore Alexandroupolis in Northern Greece, the law firm reminded in its statement.
The system utilises a floating storage and regasification unit (FSRU), along with other fixed infrastructure.
Closing of the SPA acquisition is subject to the satisfaction of certain closing conditions set out in the transaction documents.
The project will provide a new route and a source of gas diversification to a number of European countries that are currently highly dependent on pipeline gas in South East and Central Europe.
Ince & Co noted that Gastrade was advised by Norton Rose Fullbright on the deal.