International law firm CMS has supported Gas Transmission System Operator GAZ-SYSTEM SA in its process of selecting a supplier and concluding the first floating regasification unit (FSRU) chartering agreement in Poland. The agreement, setting out the terms and conditions for the delivery and operation of the FSRU, was concluded between GAZ-SYSTEM S.A. and White Eagle Energy Ltd, a company in the Mitsui O.S.K. Lines group.
The project involves the construction of a floating terminal in the Gulf of Gdańsk that will allow the unloading, in-process storage, and regasification of LNG. This will create a second LNG terminal in Poland, which is another important step towards the diversification of energy sources and the energy transformation of the Polish economy.
The contract was concluded for 15 years with the possibility of further extension and a guarantee of the right for GAZ-SYSTEM S.A. to buy the FSRU.
Marcin Bejm, partner and head of the Energy and Infrastructure practice at CMS Poland, said, “The development of critical infrastructure to ensure that the supply of energy resources is maintained is clearly a priority for our country. We are delighted that our sector knowledge, the firm’s know-how and the negotiating skills of our lawyers contributed to the conclusion of Poland’s first chartering agreement for a floating regasification terminal.”
CMS lawyers, working as part of a team of legal, technical and business advisers advising GAZ-SYSTEM S.A., participated in all stages of the tender process, from working on the term sheet, through the procurement process, preparing the draft agreement, to direct negotiations. CMS also advised on regulations concerning the development of the port infrastructure necessary for the operation of the FSRU in the Port of Gdańsk.
Lawyers from CMS’s Energy and Infrastructure practice were involved in this historic transaction. The work was supervised by partner Marcin Bejm with a team including Karol Jaworecki, Jakub Kot, Magdalena Czenko, Paweł Ura, Dominika Markowicz and Laura Pytlińska.
CMS has one of the largest energy teams in Poland. Our experts have unique experience in advising on the natural gas market and advising clients on numerous and complex projects in the renewable energy sector and in the nuclear energy sector. CMS’s Energy and Infrastructure Practice supports clients in both M&A transactions, investment processes and regulatory advice in the energy sector. The practice has for many years been acknowledged as a leader in Poland in the international rankings of Chambers & Partners, Legal500 and IFLR1000. In addition, in the CEE region, CMS is recognised by Chambers & Partners in Band 1 of recommended advisors in Projects and Energy.
