European Energy and Infrastructure Deal of the Year
The judges were fulsome in their praise for the winner of this category, a hugely important deal in the European energy sector, AEQUO's work for Naftogaz on a highly complex financing deal in Ukraine.
It is a landmark transaction with strategic importance for both Naftogaz and Ukraine. It secured Naftogaz highly cost-effective financing for purchasing gas from different reliable European suppliers and the opportunity to switch the terms of supply from pre-payment to post-payment ones and will bring new opportunities to further Naftogaz’s development as an independent player in the gas market. For Ukraine, it means the next step towards economic and political independence and the opportunity for further collaboration with the World Bank and other international partners.
The judges agreed that AEQUO showed “imaginative problem-solving in a difficult and no doubt highly charged political environment” and commended it as “inspiring... showing how lawyers can make a difference to an entire country, managing complex political sensitivities on a European stage.”
“It was huge deal completed in a tough geopolitical environment,” concluded one. “A game-changer.”
Bird & Bird
Freshfields Bruckhaus Deringer
Herbert Smith Freehills
Watson Farley & Williams