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Kyriakides Georgopoulos, in collaboration with Herbert Smith Freehills’ Brussels office, has assisted the Hellenic Gas Transmission System Operator (DESFA) in obtaining an unconditional Phase I clearance from the European Commission for the acquisition of a jointly controlled shareholding in Gastrade. Cleary Gottlieb Steen and Hamilton reportedly advised Snam, and Zepos & Yannopoulos reportedly advised Gastrade and the other controlling shareholders. 

The end of 2020 saw landmark legislative interventions in Greece, mainly aiming to create the prerequisites for the widest possible adoption of the EU Target Model (the creation of a single EU energy market) and boost the penetration of renewable energy sources, in a regulated and rational way. According to the government, these interventions “establish the framework for a more rational operation of the sector, on more competitive terms, to the benefit of the consumers and of the Greek economy in general.”

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