Bulgarian Energy Holding (BEH) engages Kelemenis & Co. in its acquisition of a stake at the Alexandroupolis LNG terminal at the North of Greece

The firm has been engaged by BEH to advise and oversee the process of acquisition of a stake at Gastrade S.A., the SPV for the construction and operation of the Alexandroupolis LNG terminal at the North of Greece that has been instigated by the Copelouzos Group. The Alexandroupolis Independent Natural Gas System (INGS) project comprises an offshore floating unit for the reception, storage and re-gasification of LNG and a system of a subsea and an onshore gas transmission pipeline through which the natural gas will be shipped into the Greek National Natural Gas System (NNGS) and beyond. BEH holds a leading position in the electricity and gas market in Bulgaria and, through electricity exports, in the Balkans. It is wholly owned by the Bulgarian State and is the largest state-owned company in terms of total assets in Bulgaria. The Group owns the main electricity generation facilities in the country as well as the electricity transmission grid and the gas transmission and transit networks. The Group is also the public supplier of both electricity and gas in Bulgaria. Its market share of electricity generation was 59% in 2015, had an installed electricity generation capacity of 6.3 GW and generated 29.24 TWh of electricity. BEH is the successor of the state-owned company Neft i Gas (Oil and Gas) established in 1973 and later renamed to Bulgargaz.