Energy
Zepos & Yannopoulos is widely recognised as having one the leading energy law practices in Greece. Its members include three former in-house legal counsel to oil majors while its leader has extensive experience working in the energy practices of major City law firms and is consistently recommended as one of the leading practitioners in the field in the country.
We are the Greek member firm for "The Energy Law Group", the most extensive network of European law experts in energy.
A. The Electricity Industry
B. The Gas Industry
C. The Oil Industry
A. The Electricity Industry
We advise on a wide range of electricity matters from licensing and regulatory compliance to contract and codes drafting. Our expertise covers the following electricity sectors.
Thermal and renewable generation
The members of our energy group have extensive expertise in supporting new entrants in the renewable generation sector (wind and photovoltaics) advising on all the legal and financial requirements relating to the setting up of new power plants, advising on the regulatory background including licensing, tariffs, grid connection, PPAs and also on state subsidies. We also have experience in negotiating relevant contracts for leasing, EPC and Construction agreements and conducting due diligence on renewable projects.
Supply, import/export and trading
We regularly advise potential new entrants to the supply market on all aspects of the supply regulation, import and export codes and processes and electricity trading. We prepare applications for supply licences, and assist clients in the negotiation of standard supply contracts with their customers.
Regulatory Structures, Codes and liberalisation
Members of our group also have extensive regulatory experience with developing liberalised energy markets, including advising on standard grid agreements, all types of licences, liberalisation laws and code drafting. Our firm has drafted the part of the grid operations code that relates to electricity trading and operation of the daily pool.
Relevant projects undertaken by our firm include advising the following:
- Iberdrola Energias Renovables SAU on an ongoing basis in a wide variety of electricity generation, commercial, regulatory and corporate issues in relation to its subsidiary C. Rokas AE and the acquisition of renewable power projects in Greece
- Wurth Solar on their standard EPC and construction contracts for construction of solar parks in Greece
- Solarfin Portugal (and other clients) on all matters relating to their Greek subsidiaries for the establishment of small and large photovoltaic parks, including regulatory advice on the licensing process and framework and due diligence of photovoltaic projects, drafting relevant contracts and advising on all relevant matters
- Hannover Leasing (and various investment funds) on the regulatory and financial aspects of the photovoltaic market in Greece and setting up and operating a JV with their Greek partners
- Ezpada, CE Trading (and other foreign clients) on an ongoing basis on regulatory matters regarding setting up electricity trading activities in Greece, including preparation of licensing applications
- Edison Trading S.p.A., Verbund (and others) on regulatory, commercial and contractual aspects of supplying eligible customers in Greece, including advising on the relevant supply agreement as well as on the contractual arrangements in relation to use of the distribution and transmission systems and interconnectors
- Iberdrola/Motoroil, a joint venture of Iberdrola and Motoroil AE, on the participation to a tender of the Hellenic Transmission System Operator (HTSO) for the construction and operation of a gas fired power plant in Greece
- Jordan on an EU funded project relating to the provision of technical assistance to the Jordanian energy regulator to strengthen its institutional capacity, regulate more effectively and promote private participation in the electricity sector- as the international legal expert for the Electricity Regulatory Authority in Jordan (2004 - 2006). Work included drafting and reviewing generation, distribution, supply, system operation etc. licences, reviewing and commenting on PPAs, legislation, regulations, technical codes and tariffs and advising on strategies to strengthen the regulatory regime and the role of the regulator, including the provision of relevant training
- RAE, the Greek Regulatory Authority for Energy, on the drafting of new codes relating to the introduction of a wholesale trading market in electricity in the form of a pool and a new regime for dispatch, allocation and charging for imbalances and ancillary services
- Elsam A/S on corporate and commercial aspects of the joint venture development of cogeneration power plants in Northern Greece
- VA TECH Hydro AG on regulatory and environmental licensing issues related to the construction of a thermal power plant owned by Hellenic Petroleum in Northern Greece;
- Various clients on Wind Power Projects: Vestas, Iberdrola, Neg Micon, Fog Wind, UBS Capital, Eurus Energy (formerly Tomen Power), Fortis Bank, Nedpower, ABB Equity Ventures.
B. The Gas Industry
We have experience in advising on the developing regulatory market of natural gas in Greece, including in the establishment of the independent grid operator and its spin off from the ex-incumbent, on the setting up of a new underwater natural gas pipeline between Greece and Italy and related matters. For more details see below.
Relevant projects undertaken by our firm include advising the following:
- Edison SpA on regulatory, corporate and contractual matters relating to the construction of the TGI Poseidon independent underwater gas pipeline between Greece and Italy, including regulatory issues relating to the construction of a privately owned gas facility connected to the Greek gas transmission system
- Several clients on the regulatory framework of import/export, trade, supply and transmission of gas through the Greek gas transmission grid and LNG facility
- Cyprus Regulatory Authority on regulatory matters relating to measures for the security of natural gas supply in Cyprus
- DEPA AE, the gas ex-incumbent, on all matters relating to the establishment of an independent gas transmission system operator as its subsidiary (following the implementation of the EU Gas Directives) and the separation of the relevant business, including regulatory and corporate aspects (spin-off of the relevant sector into the new company)
- EDA Attikis on the merger of three gas distribution companies into one company
- Shell gas on legal issues regarding gas distribution networks and customers' servicing
- Sofregaz -Technigaz on various tax and legal issues with respect to the construction of the Cryogenic Gaz Installation in Revythousa for the account of DEPA and
- Tomi AE on legal and tax implications of a major land-field gas energy project including financing, construction, installation, operation and maintenance of a plant and a gas collection system for the purpose of producing electric and thermal power, undertaken together with Energy Developments of Australia and subsidized by the Greek Ministry of Energy.
C. The Oil Industry
Our firm has one of the largest and most experienced oil and gas practices in Greece. Three of our senior partners were former legal counsel to oil companies (EKO, Texaco and BP) while we advise oil companies on a regular basis and on a wide array of legal and tax issues. Our work includes advising on restructuring, mergers and acquisitions, refining and refinery agreements, trading and marketing prerequisites, financing, energy asset deals, liberalisation, privatizations, environmental law, competition law, shipping and transportation arrangements, tax and customs compliance. We also advise on litigation relevant to these issues, with emphasis on matters of customs compliance and trade of oil products.
Relevant projects undertaken by our firm include advise on the following:
- Bourgas - Alexandroupoli Oil Pipeline: all aspects relating to the construction of oil pipelines and transportation of oil through pipelines in Greece for a major international player, including regulatory, licensing, commercial, environmental, administrative, corporate and tax issues
- Chevron Terminal and Lubricant Blending Plant: the transfer of its Terminal and Lubricant Blending Plant to a major Greek oil company, in all aspects relevant to the transfer of land and facilities, including regulatory, commercial, labour, environmental and tax issues. We also advised on accompanying relocation of the Chevron business
- Hellenic Petroleum: restructuring and privatization of Hellenic Petroleum ("H.P.") including analysis of the regulatory framework, operational aspects of the restructuring, drafting of proposed amendments to the existing regulatory framework, due diligence of all subsidiaries of H.P., including DEPA (Public Gas Corporation) and the oil refineries, and participating in the drafting of the relevant prospectus. We also advised the underwriters with respect to H.P.'s secondary offering
- Shell: the acquisition from Texaco of the latter’s downstream business in Greece (including terminals and more than 450 gas stations)
- Exxon Mobil: tax aspects of the dissolution of Exxon Mobil's joint venture with BP Amoco and on the restructuring of its local affiliate, Mobil Oil Hellas. We provide continuous tax advice with respect to the operations of the Greek affiliate
- Texaco: the tax implications of the transfer of Texaco's shares in the local subsidiary to Shell and on the regulatory framework governing the distribution and sale of fuels and lubricants in Greece. We continue to offer advice on various legal, tax and customs issues
- Texaco: the incorporation of a new Texaco affiliate, active in the field of industrial and aviation fuel and lubricants, including regulatory issues and administrative -trading- licenses, the commencement of its activities at the new Athens Airport and the acquisition of Terminal facilities with respect to issues of administrative licenses for the operation of the facilities, environmental and customs compliance issues
- Chevron: their joint venture with a major Greek petroleum company regarding aviation fuel and supplies
- Famm LLC: forming the subsidiary of Famm LLC (a subsidiary of the joint venture between Chevron and Texaco) and all regulatory and tax matters related to the operation of their marine fuel and lubricants business in Greece and
- BP/Exxon Mobil: the Pipeline User Agreement related to aviation fuel deliveries to Athens International Airport.
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