Suciu Popa & Associates assisted Black Sea Oil & Gas S.R.L. in signing the Gas Sales Agreement with ENGIE for natural gas supply from the MGD Project
21 November 2018
Suciu Popa & Associates assisted Black Sea Oil & Gas S.R.L. in signing the Gas Sales Agreement (“GSA”) with ENGIE through its subsidiary Engie Energy Management Romania S.R.L. (“Engie”) for natural gas supply from the Midia Gas Development Project (“MGD”).
Under this agreement, which is subject to Final Investment Decision, ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum period of 10 years in compliance with Romanian law. Expected contractual volumes at project completion represent 0,5 bcm per year.
“We are deeply honored to have been entrusted with managing such an important project for a company which shares the same vision for a clear and predictable legal framework. We are glad to provide support to private companies which choose to invest in Romania”, said Miruna Suciu, Managing Partner Suciu Popa.
“In our work on the Gas Sale Agreement we were helped and advised by Suciu Popa, who were always very professional and truly dedicated to this important project” said Serge Guibert, Administrator and CFO of Black Sea Oil & Gas S.R.L.
The project was coordinated by Miruna Suciu (Managing Partner) together with Cleopatra Leahu and Andrei Georgescu (Partners), all having extensive experience in the area of Energy & Natural Resources and being involved, over the past 18 years, in some of the largest cross border transactions and milestone investment projects.